Russia has the world's second-largest gold and foreign currency reserves, totaling $74.500 billion (€59.600 billion), enough to cover its import costs for the next twelve months. Only Japan, with $626.000 billion (€500.000 billion), holds more than Russia.
Putin, quoted by the economic news agency RosBusinessConsulting, estimated that the growth in reserves "is one of the brightest and best figures of 2003" and emphasized that the Central Bank's reserves have continued to increase. According to this entity, the country's gold and foreign currency reserves amounted to $74.500 billion last month, compared to $71.800 billion the previous month. Since November 7, foreign currency reserves have increased by $9.800 billion (€7.840 billion), of which $4.000 billion (€3.200 billion) corresponds to the last 15 days and $2.700 billion (€2.160 billion) to last week.
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