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Banking

FX/gold reserves grow by USD 1.9bn to USD 278.9bn in Nov 10-17.

FX/gold reserves grow by USD 1.9bn to USD 278.9bn in Nov 10-17. CBR’s FX/gold reserves posted USD 1.9bn (0.69% w/w) growth to USD 278.9bn over Nov 10-17. The increase was slower than in the previous two weeks when the reserves grew by USD 2.8bn and USD 5.1bn respectively. The reserves are increasing five weeks straight by a total of USD 12.4bn. In ytd terms, total reserves soared by 53.1% as they stood at USD 182.2bn. The RUR/USD rate stood at 26.7 as of Nov 10 and RUR dropped against USD by 8 kopeks on the next day. Starting on Nov 15, the rate started RUR started to strengthen again and the rate made up RUR 26.66 as of Nov 17. EUR appreciated against RUR from 34.11 as of Nov 10 to 34.17 on Nov 17.

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