Russia considers the purchase of $ 70 billion in the currency of “pleasant international locations” these kinds of as the yuan = Bloomberg | Reuters


BLOOMBERG News (Reuters) – Russia is taking into consideration purchasing up to $ 70 billion in overseas forex this year to retain the ruble at bay, in accordance to Bloomberg Information. FILE Picture: May possibly 30, 2022. REUTERS / Dado Ruvic

(Reuters) – Russia is taking into consideration purchasing up to $ 70 billion in foreign forex this year to retain the ruble at bay, in accordance to Bloomberg Information. The currencies of “friendly” nations around the world this sort of as the Chinese yuan are explained to be focused.

This was documented, citing multiple sources.

“In the new conditions, it is exceptionally complicated and unwise to accumulate extremely liquid overseas exchange reserves to get ready for foreseeable future crises,” states a proposal prepared for a conference of the Russian federal government and the central financial institution.

The Russian central lender was not promptly available for comment.

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