Russia’s gold and foreign currency reserves stand at a comfortable level and have almost reached the $500 bln target, Central Bank Chief Elvira Nabiullina said on Thursday, ONA reports citing Tass.
"Last year reserves rose from $433 bln to $469 bln, as of May 1 they equaled $491 bln. Reserves are on the rise due to the fiscal rule, the current level of reserves is sufficient by any reckoning. Several years ago we said that we considered $500 bln as a certain reserves target that covers all possible risks considering external factors as well. So we see that we are almost close to that level," she said.