“The Russian central bank will continue to buy gold as it seeks to diversify its foreign reserves away from paper assets it views as risky, First Deputy Chairman Alexei Ulyukayev said on Thursday. The Bank of Russia has built up the world’s fourth-largest foreign reserves, worth $530 billion, by buying oil export dollars to keep the rouble competitive. The hoard includes two rainy-day budget funds that guard against fiscal shocks. The bank has also been a bullion buyer and the share of gold in its reserves is approaching a medium-term target of 10 percent.”
http://www.reuters.com/article/2013/01/24/russia-cbank-idUSL6N0AT41J20130124
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Tip Freedomwat.ch Staff with Bitcoin
Related posts:
Average Swiss wealth hits record high in dollar terms
Six dead as thousands of Mursi supporters march in Egypt
Treasury Surpasses Debt Limit on First Day of Ceiling’s Suspension
China: We would fight a trade war 'to the end'
Iraq war killed 120,000 and cost $800 billion, study estimates
Native Hawaiians to Feds: Give Us Back Our Kingdom
State Department slams Pakistani minister’s $100,000 filmmaker bounty
Federal Program Supplies Surplus Military Gear to Schools
Bitcoin owners find safe place for digital currency: on paper
Death penalty will be sought against Natchitoches police officer
Bank of Cyprus head fired under bailout deal
NSA chief Clapper: Data spying debate ‘probably needed to happen’
US Army vet charged with fighting alongside al-Qaida against Syrian government
Russia Issues Travel Warning to Its Citizens About U.S. and Extradition
New York state to mull bitcoin licensing proposal