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Sovereign Wealth Funds Briefing - Categorized | Performance

Russian currency reserves drop $31B in one week

Posted on 31 October 2008

From Business Week: Russia’s hard currency reserves dropped a record $31 billion last week as the country spent money on keeping the ruble from plummeting and the banking sector from melting down, the central bank said Thursday.

The central bank said in a statement its international foreign exchange reserves fell to $484.7 billion as of Friday, down from $515.7 billion a week before….. Full Article: Source


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