Russia boosting gold & dumping dollar from foreign currency reserves | WHAT REALLY HAPPENED


Russia boosting gold & dumping dollar from foreign currency reserves

The Central Bank of Russia reports that foreign exchange reserves saw a significant boost of nearly $3.3 billion in April as the country pursues a policy of increasing its forex funds and diversifying them away from the US dollar.

The latest growth of 0.7 percent brought Russian international reserve funds to nearly $492 billion against $487.8 billion seen at the end of March, the latest data published by the regulator shows.

The state international reserves are highly liquid foreign assets comprising stocks of monetary gold, foreign currencies and Special Drawing Right (SDR) assets, which are at the disposal of the Central Bank of Russia and the government.

Comments

SHARE THIS ARTICLE WITH YOUR SOCIAL MEDIA