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The CBR's reserves were up USD 4.1bn last week

 
13.04.2012

The CBR’s gross international reserves increased USD 4.1bn in the weekending 6 April to USD 516.7bn.

In separate news, the day before yesterday First Deputy Chairman of the CBR Alexey Ulyukaev commented that in April the regulator had continued to purchase FX at the same pace as in early March, and that it had bought around USD 1bn as of 11 April. 

We estimate the CBR’s net purchases at USD 0.8bn (RUB 24bn); the 4- week average is running at USD 1.1bn (RUB 31bn). Other factors driving the headline change were the placement of Russian sovereign Eurobonds (+USD 7bn), currency revaluation (-USD 2.5 bn) and gold revaluation (-USD 1bn). 

Alexey Moiseev, Aleksandra Evtifyeva, Daria Isakova
VTB Capital analyst

Tags:
CBR, FX market, USD, gold

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