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Tuesday, 22nd June 2004 (4383 views)

The Central Bank of Russia has unveiled latest forecasts for the gold and currency reserves at the Russian Federation.<BR/><BR/>According to the first deputy chairman of the board, Alexei Ulyukayev, the reserves are set to grow by $20-25 billion in 2004.<BR/><BR/>Speaking at an international investment conference, Mr Ulyukayev said: "In the first half of 2004 the gold and currency reserves will grow by $10 billion and in the second half - by over $10 billion."<BR/><BR/>The Central Bank also stated that by the end of this year the nominal dollar exchange rate will total 29.5-30 rubles per dollar, according to Novosti.<BR/><BR/>It added that under this and 10 per cent inflation, the effective ruble rate will not go above seven per cent.<img src="http://directnews.dehavilland.co.uk/dn.gif?feedid=196&itemid=2879268"/>

 

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