The Central Bank has called the conditions for the increase of foreign exchange reserves

© RIA Novosti / Natalia to Seliverstova in photobacteria the Central Bank of Russia on Neglinnaya street in Moscow. Archival photoThe Central Bank has called the conditions for the increase of foreign exchange reserves© RIA Novosti / Natalia to Seliverstova the image Bank

The Bank of Russia will increase the volume of international reserves to $ 500 billion from the current $ 400 billion only under favorable conditions — stable and low inflation and a stable foreign exchange market, said the Chairman of the Central Bank Elvira Nabiullina.

«Our long-term benchmark of around $ 500 billion. Why? The current level of reserves is by all standards sufficient — about $ 400 billion. But in order to provide great protection from different kinds of events that can happen outside, we believe that under favorable conditions it is possible to increase reserves. But we have to do it with full confidence and the stability of inflation and stable foreign exchange market. Here there was no rush,» — said Nabiullina at the meeting of the faction «United Russia» in the Duma.

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