Bank of Russia halves share of dollar in forex reserves

At the same time, the share of Russia’s euro and gold investment has increased.

Over the past year, the Russian Central Bank reduced the share of the dollar in its international reserves more than by half. As follows from the Bank of Russia Foreign Exchange and Gold Asset Management Report, the proportion declined from 46.3% on June 30, 2017 to 21.9% a year later, on June 30, 2018.

At the same time, the Russian regulator increased the share of investment in euros from 25.1% to 32%, and in gold, from 16.1% to 16.7%. The yuan accounts for 14.7% of the Central Bank reserves.

In November, Russia’s international reserves (highly liquid foreign assets held by the Bank of Russia and the Government) rose to the level of September 2014, reaching $462.104 bln by December 1, 2018. Of these, foreign currency reserves amounted to $379.179 bln.

From January to November 2018, the Central Bank’s monetary gold reserves increased by 264.4 tons to 2.103 mio tons. The cost of gold increased by 8.2% to $82.925 bln in 11 months.


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