MOSCOW, June 21 (RIA Novosti) - The gold and currency reserves of the Russian Federation will grow by $20-25 billion in 2004, Central Bank first deputy chairman of the board Alexei Ulyukayev told an international investment conference on Monday.
"In the first half of 2004 the gold and currency reserves will grow by $10 billion and in the second half - by over $10 billion," he said.
According to the Central Bank, by the end of 2004 the nominal dollar exchange rate will total 29.5-30 rubles per dollar. Under this rate and 10% inflation the effective ruble rate will not exceed 7%, Mr. Ulyukayev noted.
