MOSCOW: Russia's central bank will soon announce new criteria that will be used to determine whether it regards its international reserves as sufficient, a senior bank official said on Tuesday. "We have sufficient reserves.
At the moment we are working on more detailed criteria (for the sufficiency of the reserves), which we think could be applicable based on our experience," Ksenia Yudayeva, first deputy governor of the central bank, told reporters. "We will make an announcement in more detail soon."
The bank recently started buying foreign currency to top up its reserves, now worth $362.3 billion after falling sharply last year as the bank fought off a run on the rouble currency.
The bank has previously said that it intends to buy between $100 million and $200 million a day, without indicating how long it intends to continue daily forex purchases.
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