Less dollars, more gold: Russia continues adding to its international reserves ...News

Russia Today - Economy
Less dollars, more gold: Russia continues adding to its international reserves
source : Russia Today ( News ) () 38
The Central Bank of Russia (CBR) reported on Thursday that the nation’s gold and foreign exchange reserves reached $528.4 billion, rising by $1.3 billion in one week. The amount in international reserves has been above the central bank’s target level of half-a-trillion dollars for 11 consecutive weeks. The regulator explained that the reserves rose thanks to positive revaluation and the purchases of foreign currency within the framework of the budget rule. The international reserves are comprised of highly-liquid foreign assets at the disposal of the Central Bank and the Russian government, including foreign currencies, monetary gold,

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