Thus, the share of the euro in Russia’s forex reserves decreased over the past year by 1.6 percentage points to 29.2% as of January 1. The share of the greenback dropped 3.3 percentage points, to 21.2%. The British pound’s share was also slightly down – by 0.2 percentage points, to 6.3%.
At the same time, Russia’s gold reserves surged to 23.3% from 19.5% a year earlier. The Chinese currency also saw a boost, with yuan holdings growing to 12.8%. The share of other foreign currencies increased by 0.8 percentage points to 7.2%, the regulator said.
According to the CBR, the Japanese yen accounted for 3.9% of Russia’s foreign holdings, Canadian dollars for 2.5% and Australian dollars for 0.8%.
In 2020, the value of the central bank’s assets in foreign currencies and gold increased to $588 billion.
Russia has been steadily diversifying national reserves since Washington began imposing sanctions in 2014, in order to cut its economy’s reliance on the US dollar. In 2019, the share of bullion holdings in Russia’s reserves surpassed US dollar holdings for the first time.
© 2021, paradox. All rights reserved.
Ukrainian President Vladimir Zelensky claimed on Friday that Russian forces have launched a new large-scale…
NATO soldiers are already in Ukraine helping Kiev but the US-led bloc does not want…
Russia has celebrated the 79th anniversary of victory over Nazi Germany in World War II…
The Russian military has seized two settlements in Kharkov Region and Donbass from Ukrainian forces,…
AstraZeneca pharmaceutical company has announced the withdrawal of its Covid-19 vaccine from global markets, claiming…
A video documenting the destruction of a NATO-supplied tank in Ukrainian service appeared on Russian…