RBK publishes that gold and currency reserves are continuing to grow: on December 5, 2003, their volume amounted to $70,6 bln. This is a historic maximum, but the authorities of the Central Bank don’t seem to be glad about it: the reserves’ volume, according to experts, increases only due to the fact that the country’s principal bank has to buy dollars. From the beginning of 2003 gold and currency reserves have grown up by almost $22,8 bln, while in 2002 they grew up by $1,2 bln only.

Now the Central Bank of Russia associates the growth of gold and currency reserves with banks’ holidays strategy.