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    Russia may increase gold and foreign exchange reserves to 500 bln USD

    As a result, Russia will rank in TOP 5

    Baku. 25 January. REPORT.AZ/ Russian international reserves up to 500 billion USD by 2019.

    Report informs citing Izvestiya, Institute of Economic Forecasting of the Russian Academy of Sciences (RAS) declares.

    According to the institute, if oil prices remain at this level, capital inflows weaken and impact of favorable external factors continues, international reserves will continue to grow. According to the statement, even purchase of foreign currency in the foreign exchange market by the Bank of Russia (Central Bank) will not affect this process. Experts forecasts that in this case, Russia will rank in top 5 of the countries of largest gold and foreign currency reserves.

    Notably, currently, Russian international reserves amount to 385.4 bln USD.

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