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Russia scraps US Treasuries in favor of gold
2018/06/21 18:48
(Encyclopedia of this Day News | Iraq News ) - Direct: Russia reduced holdings of US Treasury bonds in exchange for the increased purchases of gold, in a new twist with US sanctions imposed on Russian companies and individuals.
Russia sold US $ 47.4 billion worth of US Treasuries last April, the biggest drop among major US debtors.
According to data from the US Treasury Department, Russia is currently investing $ 48.7 billion in US debt compared to the record level of $ 176 billion in 2010.
Moscow currently ranks No. 22 in the ranking of the most heavily traded US Treasuries.
In contrast, the Russian central bank continues its purchases of gold, increasing reserves of the metal by about 1% in May to reach 62 million ounces valued at $ 80.5 billion.
In May, Russia's central bank, "Elefira Napolina", said gold purchases helped diversify reserves.
After the inauguration of Vladimir Putin as president for a new term in Russia, he warned that his country is seeking to get rid of the dollar and diversify reserves to support economic sovereignty.
According to the latest data released by the Russian Central Bank, the share of the US currency from reserves jumped by about 46% in 2017, representing a higher pace than the previous year of 40%.
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Russia sold US $ 47.4 billion worth of US Treasuries last April, the biggest drop among major US debtors.
According to data from the US Treasury Department, Russia is currently investing $ 48.7 billion in US debt compared to the record level of $ 176 billion in 2010.
Moscow currently ranks No. 22 in the ranking of the most heavily traded US Treasuries.
In contrast, the Russian central bank continues its purchases of gold, increasing reserves of the metal by about 1% in May to reach 62 million ounces valued at $ 80.5 billion.
In May, Russia's central bank, "Elefira Napolina", said gold purchases helped diversify reserves.
After the inauguration of Vladimir Putin as president for a new term in Russia, he warned that his country is seeking to get rid of the dollar and diversify reserves to support economic sovereignty.
According to the latest data released by the Russian Central Bank, the share of the US currency from reserves jumped by about 46% in 2017, representing a higher pace than the previous year of 40%.
Note: The content entitled "Russia Discharges US Treasuries in favor of Gold" was first published on the "Mubasher" website and the encyclopedia of this news day is not guaranteed in any way.
You can see the details of this address (Russia gets rid of US Treasuries in favor of gold) through its original source any site (direct site).
https://hathalyoum.net/articles/1583290-%D8%B1%D9%88%D8%B3%D9%8A%D8%A7-%D8%AA%D8%AA%D8%AE%D9%84%D8%B5-%D9%85%D9%86-%D8%B3%D9%86%D8%AF%D8%A7%D8%AA-%D8%A7%D9%84%D8%AE%D8%B2%D8%A7%D9%86%D8%A9-%D8%A7%D9%84%D8%A3%D9%85%D8%B1%D9%8A%D9%83%D9%8A%D8%A9-%D9%84%D8%B5%D8%A7%D9%84%D8%AD-
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