Russia switches to buying Yuan

RUSSIA / FSU POLITICS - In Brief 19 Jan 2019 by Alex Teddy

The Bank of Russia announced on 9 January that in June it dumped USD 101 Billion in holdings. Reserves have been shifted to USD 44 Billion worth of RMB, USD 44 Billion worth of EUR and USD 21 Billion worth of JPY. This reduces exposure to US sanctions.

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