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Russia's capital inflow at $10bln in April, outflow $22bln in 1Q

MOSCOW, April 28 (RIA Novosti) - Capital inflow into Russia stood at $10 billion in April against capital outflow of $22 billion in the first quarter of 2008, Finance Minister Alexei Kudrin said on Monday.

"April has shown capital inflow at around $10 billion, according to our joint estimate with the Central Bank," Kudrin told a presidential conference with the Cabinet, citing soaring oil prices.

The official also said Russia had increased its international reserves.

"Capital outflow from Russia stood at some $22 billion in the first quarter. This was provoked by the crisis on global financial markets and the need of Western banks and investors for cash," Kudrin said.

The minister described Russia's financial market as stable.

"We are now seeing quite a stable situation in the banking sector and in the replenishment of the market of liquid funds, as well as on the financial market on the whole," Kudrin said.

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