Russia's reserves hit record high
Reserves at the end of 2004 stood at 124.5 bln usd, up 47.4 bln usd since the end of 2003.
Reserves rose sharply in the final months of 2004 in response to higher revenues from oil exports, efforts by the bank to contain the appreciation of the ruble and a pick-up in incoming capital flows, the report said.
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