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Fri Sep 13, 2019 11:53 am
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Russia gives up the dollar
Information / Baghdad ..
The governor of the Russian Central Bank, Alvira Nabielina, confirmed that the central bank continues to work on diversifying its reserves, gradually moving away from the dollar.
"The growth of the Russian economy slowed down in 2014-2015 after the imposition of Western sanctions, and this had a negative impact on the country's reserves, which fell to 356 billion dollars," Nabielina told the Nikkei newspaper on Thursday.
"But reserves have recovered, to currently $ 490 billion, and we are currently diversifying reserves for use in different economic and geopolitical conditions," she said.
She stressed that moving away from the dollar is one of the most important points of the policy of the Russian Central at the moment, noting that Russia is increasing the share of the yuan and the euro and gold in the reserves gradually at the expense of the dollar.
The size of the reserves allows the Russian government to maintain financial stability in the country, expected reserves will soon reach the level of half a trillion dollars. Finished 25 s
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