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Russia's currency reserves set to rise $47-$121B in 2007

MOSCOW, August 17 (RIA Novosti) - Russia's foreign currency reserves will grow between $47.2 bln and $121.3 billion in 2007, depending on world energy prices, the country's Central Bank said Thursday.

The Central Bank said it had three macroeconomic development scenarios for 2007.

Scenario 1 assumes a substantial fall in energy prices, with Urals oil prices falling to $45 per barrel compared with $65 this year. In this scenario, Russia's foreign currency reserves will grow $47.2 bln.

Scenario 2 sets the Urals price at $61 per barrel in 2007, with foreign currency reserves growing $87.4 bln.

Scenario 3 projects a rise in energy prices, with Urals selling for $75 per barrel and foreign currency reserves growing $121.3 bln.