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5.1.3 Gross international reserves
Gross international reserves increased crossed the $400bn line for the first time since 2013 . Despite the low oil prices since the end of 2014 Russia has managed to maintain its reserve level steady and they have even started to increase again recently after oil prices have rise to above $50 a barrel.
The CBR says that it would get reserves back above $500bn. Still, they remain well below the peak level of $596.566bn set at the end of July 2008.
46 RUSSIA Country Report April 2017 www.intellinews.com
