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Sovereign Wealth Funds Briefing - Categorized | Reserve Currencies

Russia’s foreign reserves tumble $9.2 bln, most since May

Posted on 07 October 2011

Russia’s international gold and currency reserves declined for a fourth week, plunging $9.2 billion, the most since May, as Bank Rossii bought rubles, stepping up its defense of the currency.
The country’s reserves tumbled to a four-month low of $516.8 billion in the week to Sept. 30, the central bank said on its website today. The four-week decline of $26.6 billion is the steepest since January 2009, when Bank Rossii arrested a ruble devaluation. The ruble depreciated 10 percent against the dollar in September……………………………………….Full Article: Source

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