Russia's foreign exchange reserves increase

Russia's foreign exchange reserves advanced 6 percent in December to USD124.541bn as of January 1, 2005.

As the Russian Central Bank reported, in 2004 foreign exchange reserves grew 61.87 percent.

Foreign currency reserves advanced 23 percent in December to USD119.09bn. Over the past year they grew 88.6 percent. Gold reserves increased by USD1m in December to USD3.732bn. In 2004 gold reserves were cut by 0.8 percent.

Starting Wednesday, the Bank of Russia will be releasing 60 million 10-ruble c

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