Russian Foreign Currency and Gold Reserves Hit $500Bln – The Moscow Times

The Moscow Times | Jun 14, 2019 at 7:03 AM
  • The target was set by the CBR in 2015, as the currency market stabilised after the extreme volatility of 2014, and was repeated by CBR head Elvira Nabiullina until the spring of 2018.
  • In the meantime the structure of GIR changed, as the CBR has boosted its gold reserves and cut the share of the U.S. dollar in its currency holdings.
  • At the same time the share of US dollar was cut from 43.7 percent to about 20 percent.