Russia will not switch out of euro reserves -Medvedev

PARIS Tue Nov 27, 2012 8:13am EST

PARIS Nov 27 (Reuters) - Russia has no plans to switch its euro-denominated foreign exchange reserves into other currencies, Prime Minister Dmitry Medvedev said on Tuesday during a visit to Paris.

"We have no intention of reallocating them ... Despite the problems (in the euro zone ) we think it will get better," Medvedev told a news conference.

Russia has signalled in the past that it could be willing to diversify its forex reserves by adding other currencies such as the Australian dollar.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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