Russia’s currency reserves stand at comfortable level, says Central Bank chief
Russia’s gold and foreign currency reserves stand at a comfortable level and have almost reached the $500 bln target, Central Bank Chief Elvira Nabiullina said on Thursday.
"Last year reserves rose from $433 bln to $469 bln, as of May 1 they equaled $491 bln. Reserves are on the rise due to the fiscal rule, the current level of reserves is sufficient by any reckoning. Several years ago we said that we considered $500 bln as a certain reserves target that covers all possible risks considering external factors as well. So we see that we are almost close to that level," she said.
Source
"Last year reserves rose from $433 bln to $469 bln, as of May 1 they equaled $491 bln. Reserves are on the rise due to the fiscal rule, the current level of reserves is sufficient by any reckoning. Several years ago we said that we considered $500 bln as a certain reserves target that covers all possible risks considering external factors as well. So we see that we are almost close to that level," she said.
Source