44 days ago • Posted by Martin Boujol

Russia has more gold than dollars

For the first time, Gold surpassed dollar assets in Russia's reserves. This indicates the diminishing trust that Russia puts in US dollars. Note that the data are published with a 6 months delay. While the dollar is the world's preeminent currency (60% of all foreign currency reserves globally according to the IMF), the euro is Russia's top reserve holding, with $165 billion, vs. $125 billion in dollars and $128 billion of gold. 

Source: Central Bank of Russia, the Moscow Times

#Macro
central bank of russia
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