21 June 2004 13:32
Russia expects reserves to grow by 20bn dollars this year
Moscow, 21 June: Russia's gold and foreign-currency reserves will grow by 20bn-25bn dollars in 2004, the first
deputy head of the Russian Central Bank board, Aleksey Ulyukayev, told an international investor conference on Monday
[21 June].
"Gold and foreign-currency reserves will grow by 10bn dollars in the first half of 2004 and by a little over
10bn dollars in the second half," Ulyukayev said.
The Central Bank predicts the rouble-dollar exchange rate to be R29.5-R30 per dollar. Given this rate and 10-per-cent
inflation, the rouble's effective rate will grow by no more than 7 per cent, Ulyukayev said.
[RIA news agency] |
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