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Russia 's economy accumulates gold in its coffers .. What is the reason?[/size]
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Twilight News
15 hours ago
Russia 's economy accumulates gold in its coffers .. What is the reason?[/size]
Twilight News
15 hours ago
The Russian central bank continues to strengthen its gold reserves. In March alone, the bank added 18.7 tons (600,000 ounces) of precious metal to Russia's foreign reserves.
The central Russian data show that gold reserves soared to 2170 tons, and the yellow metal accounted for about 18% of the country's foreign reserves, which consisted of gold, foreign exchange and drawing rights.
According to data, Russia bought 56 tons of gold in January-March, buying 37.3 tons of gold in January and February.
The data reflect Moscow's commitment to its previously announced plan to diversify foreign reserves from various geopolitical risks and reduce the country's dependence on the dollar. Under the plan, the central bank reduced its holdings of the US currency.
In April and May last year, Russia sold $ 81 billion of US Treasury bonds, close to its $ 90 billion gold reserves.
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