Thursday, August 11, 2011

Russia's foreign exchange reserves climb - IGI

Russia's foreign exchange reserves climb - IGI

Russia's central bank said, foreign exchange and gold reserves of Russia increased by $ 4.1 billion, up USD 535 billion in the week ending on 29 / 7.

This reserve level is the highest since October 2008, according to data compiled by Bloomberg. Vladimir Tikhomirov, chief economist at Moscow Otkritie Capital said, given the volatile currency fluctuations and the increase in gold prices was 1.8 billion USD week

Mr. Tikhomirov said last week, the Russian currency market witnessed a significant adjustment after the Russian ruble appreciation. This price increase primarily stems from the slowdown of global economy.

Earlier, reports Independent of Russia on 8 / 8 comments, the S & P grade credit rating of U.S. led foreign currency reserves of Russia decreased and affect the market of raw fuel, and cause strong reaction from Beijing and New Delhi. Independent economists said that Russia had lost part of foreign reserves by U.S. dollar weakness. Copyright @ 2011 - Theme by NanLimo - Thanks to Google