October 20, 2011 / 10:01 AM / 8 years ago

Russia cbank says will raise gold share in reserves

MOSCOW, Oct 20 (Reuters) - The Russian central bank will continue raising the share of gold in its gold and foreign exchange reserves, the central bank First Deputy Chairman Alexei Ulyukayev said on Thursday.

“We are not planning to step away from this path. We are acquiring huge volumes (of gold),” Ulyukayev told the parliament.

Earlier on Thursday, the central bank data showed that Russia’s gold and forex reserves, the world’s third largest, rose to $517.7 billion in the week to Oct. 14. (Reporting by Oksana Kobzeva; Writing by Andrey Ostroukh; Editing by Lidia Kelly)

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