Russia's Gold, Forex Reserves Up Again

Russia's Central Bank's public relations department announced, that Russia's gold and forex reserves increased by $15.138 billion or 6% in July to $265.699 billion.

In January-July 2006 reserves increased by $83.459 billion or 45.8% from $182.24 billion at the start of the year.

The main areas of monetary-credit policy in 2006 assume that with a price for Urals oil of $60 per barrel, the reserves will increase by $104.4 billion by the end of the year.