Oct. 21, 2004
Moscow News
For the first time in Russia’s history gold and currency reserves have exceeded $100 billion, according to information provided by the Central Bank of Russia on Thursday, Oct. 21.
As of Oct. 15, 2004 the volume of the country’s gold and foreign currency reserves amount to $100.1 billion, having grown by almost $2 billion in one week, since Oct. 8.
Earlier the Central Bank authorities forecasted that Russia’s currency reserves would only reach $100 billion by the end of the year. However, high world oil prices and the financial authorities’ decision to contain ruble growth have prompted the reserves to grow at a much faster pace than expected.
http://www.mosnews.com/money/2004/10/21/currencyreserves.shtml