Russian Foreign Currency Reserves Expected to Rise, RIA Says

Russia’s international currency reserves are expected to grow by tens of billions of dollars annually, RIA Novosti reported, citing Alexei Ulyukayev, a first deputy head of Russia’s central bank.

Liquidity in the Russian banking industry may fall to below 1 trillion rubles ($33.3 billion) in September and October, RIA said, citing comments by Ulyukayev in Budva, Montenegro.

To contact the reporter on this story: Stephen Bierman in Moscow sbierman1@bloomberg.net.

To contact the editor responsible for this story: Will Kennedy at wkennedy3@bloomberg.net.

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