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Russia c.bank reserves 45 pct dollars, 44 pct euros

MOSCOW | Wed Nov 19, 2008 2:15pm IST

MOSCOW Nov 19 (Reuters) - Russia's central bank reserves were 45 percent held in U.S. dollars, about 44 percent in euros, 1 percent as Japanese yen and 10 percent as British pounds as of Nov. 1, central bank head Sergei Ignatyev said on Wednesday.

As of Nov. 7, Russia had $475.4 billion in gold and foreign exchange reserves, down from nearly $600 billion in early August.

The reserves have been under fierce pressure from heavy foreign currency sales to defend the rouble, even at its new, lower level against the central bank euro-dollar basket.

The bank has sold $57.5 billion of its reserves over the last two months and contributed $14 billion to the government's bank bailout programme, Ignatyev said, adding that they declined by an additional $30.1 billion due to revaluation of the currencies. (Reporting by Elena Fabrichnaya; writing by Melissa Akin; Editing by Maria Kiselyova)

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