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. Last Updated: 07/27/2016

Gold Reserves Rise




MOSCOW -- The value of gold reserves held by the Central Bank rose by $37 million in January, to $4.035 billion on Feb. 1 from $3.998 billion on Jan. 1, the bank said in a statement on its web site (www.cbr.ru).


The Central Bank officially values its gold reserves at $300 per troy ounce.


A calculation using these figures indicates that the bank's reserves rose by 3.83 metric tons in January, to 418.34 tons from 414.51 tons.


The bank's web site said its total gold and foreign exchange reserves had increased to $12.948 billion by Feb. 1 from $12.456 billion on Jan. 1.


The Central Bank's reserves include gold, foreign currency and Special Drawing Rights, an international reserve asset that is essentially a currency of the International Monetary Fund.