Friday, September 3, 2021


Russia’s gold and FX reserves hit file excessive after IMF switch

MOSCOW, Sept 1 (Reuters) – Russia’s worldwide gold and overseas foreign money reserves rose to a file excessive of $615.6…

By Staff , in Gold , at September 2, 2021


MOSCOW, Sept 1 (Reuters) – Russia’s worldwide gold and overseas foreign money reserves rose to a file excessive of $615.6 billion after receiving a tranche from the Worldwide Financial Fund, the central financial institution mentioned on Thursday.

The IMF gave Russia round $17.5 billion in its Particular Drawing Rights in late August as a part of the worldwide $650 billion SDR allocation, its largest distribution of financial reserves on file.

Russia’s gold and FX reserves, the world’s fourth-largest, rose by $20 billion within the week to Aug. 27, the central financial institution mentioned in a weekly report.

International locations can use the SDR allocation to assist their economies or swap them with different nations, however mustn’t use the fiscal house to delay wanted financial reforms or debt restructuring, the IMF mentioned. (Reporting by Andrey Ostroukh; Modifying by Alex Richardson)



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