1.   Analysts had expected foreign reserves to rise.

2.   The economy is growing steadily, foreign exchange reserves are rising and inflation and interest rates are declining.

3.   Bank Chairman Sergei Dubinin said he expects reserves to rise as money begins to arrive from the loan package.

4.   Central Bank Chairman Sergei Dubinin said growth will slow in coming months, but he still expects overall reserves to rise as demand for the Russian currency increases.

5.   He also insisted sagging currency reserves would rise again in the coming days.

6.   Government officials said foreign-currency reserves rose during the last two weeks because local financial institutions paid off loans from the central bank.

7.   Its currency gained value and foreign exchange reserves rose sharply on aid and remittances.