Russia sharply reduced assets in the USA
The Russian Central Bank sharply reduced investments in American assets - from 30% to 9,7%. The Bank of Russia also got rid of a significant share of the dollar in the currency basket. The Central Bank allocated the released funds to Japanese and Chinese assets, and also invested in physical gold.
According to the results of the first three months of this year, the Russian regulator took first place among the Central Banks of the whole world in terms of purchases of this precious metal, having bought more than 55 tons. Some media outlets interpreted this extremely negatively, stating that Russians should prepare for even tougher sanctions from Western countries. However, everything is exactly the opposite. Avoiding the dollar just reduces the risk of losing assets denominated in US currency. And the increase in gold reserves significantly increases the strength of domestic economics and trust in the ruble.
That is, before the Central Bank leadership was criticized for placing its assets abroad, now it is criticized for investing in physical gold, which, by the way, is fully stored in Russia.
However, not only the Russian Central Bank chose this strategy. Gold is actively purchased by other countries, such as China, India, Turkey.
According to the results of the first three months of this year, the Russian regulator took first place among the Central Banks of the whole world in terms of purchases of this precious metal, having bought more than 55 tons. Some media outlets interpreted this extremely negatively, stating that Russians should prepare for even tougher sanctions from Western countries. However, everything is exactly the opposite. Avoiding the dollar just reduces the risk of losing assets denominated in US currency. And the increase in gold reserves significantly increases the strength of domestic economics and trust in the ruble.
That is, before the Central Bank leadership was criticized for placing its assets abroad, now it is criticized for investing in physical gold, which, by the way, is fully stored in Russia.
However, not only the Russian Central Bank chose this strategy. Gold is actively purchased by other countries, such as China, India, Turkey.
Information