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Banking

CBR’s FX reserves up by USD 4.5bn (1.6% w/w) to USD 283.4bn on Nov 17-24.

CBR’s FX reserves up by USD 4.5bn (1.6% w/w) to USD 283.4bn on Nov 17-24. CBR’s FX reserves reached USD 283.4bn as of Nov 24, which is USD 4.5bn (1.6% w/w) increase comparing with the Nov 17 reading. Worth noting, the reserves were increasing during the last six weeks, posting a USD 16.9bn growth over this period. However, the current size of FX reserves only slightly exceeds the volume reached in mid-August. In terms of FX reserves Russia got closer to the world’s leaders, China and Japan .FX-rates of USD and EUR against RUR demonstrated the following dynamics during the week. On Nov 17 RUR/USD exchange rate stood at 26.65. On Nov 18 USD strengthened against RUR to 26.69. On Nov 21 it lost 5 kopeks, but then rose slightly to 26.65 on Nov 22. After that USD started to weaken again. It fell by 4 kopeks against RUR to 26.61 Nov 23 and by 6 kopeks on Nov 24. RUR/EUR rate was 34.17 on Nov 17 and it demonstrated a reverse dynamics during the week. On Nov 18               EUR lost 3 kopeks against RUR to 34.12 RUR/EUR. On Nov 21 EUR appreciated against RUR to 34.19.

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