Date: 6 months ago   Category: Finance

Reserves of gold of Russia have for the first time exceeded 2 thousand tons — Rambler News Service


Photo: globallookpress.com Quarter net - gold purchases by the Bank of Russia have reached record 92,2 tons following the results of the III quarter, reports the World gold council (WGC). As a result the total amount of reserves of gold of Russia has for the first time exceeded 2 thousand tons. Calculations of WGC are based on data of the International Monetary Fund from 1993. The gold share makes 17% of the total amount of gold and foreign exchange reserves of the Russian Federation now. Total amount net - gold purchases by the Central Banks of the world for the reporting period has reached 148,4 tons (22% in annual terms) that is a maximum from IV quarter 2015. The most part of purchases has fallen on Russia, Turkey and Kazakhstan. Russia increases gold reserves against the background of the continuing reduction of investments into state bonds of the USA. So, according to the latest data of the American Ministry of Finance, Russia in August has reduced investments into state bonds of the USA by $900 million in comparison with July — to $14 billion. Earlier in May Russia has left the list of the largest holders of treasury papers, having reduced investments in the state bond of the USA by $33,8 billion in comparison with an April indicator. Besides, at the beginning of October the Finance Minister Anton Siluanov has reported that the plan of dedollarization of economy of Russia is introduced in the government. According to him, in particular, he provides cancellation by 2024 of obligatory return to the country of export revenue for payments in rubles. The Minister of Economic Development Maxim Oreshkin also said to journalists that offers on the stimulating measures directed to dedollarization of economy of Russia have prepared the Central Bank, the Ministry of Finance and the Ministry of Economic Development. In the middle of October the President of Russia Vladimir Putin at a meeting of the International Valdai Discussion Club has said that Russia "" will precisely move in the direction of transition to payment with other countries in national currencies.

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