Thursday, June 08, 2006

CBR has no intention to change structure of forex reserves-Ignatiev

Russia’s Central Bank has no intention of changing the structure of the foreign exchange component of its gold and foreign exchange reserves.

“That component is diversified well enough,” CBR President Sergei Ignatiev told the international banking congress in St. Petersburg on Thursday.

The dollar component constitutes half of the foreign exchange reserves and the euro component, 40 percent. The other currencies are the British pound and the Japanese yen, the latter accounting for less than one percent of the reserves.

Read more here.

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