简体中文
繁體中文
English
Pусский
日本語
ภาษาไทย
Tiếng Việt
Bahasa Indonesia
Español
हिन्दी
Filippiiniläinen
Français
Deutsch
Português
Türkçe
한국어
العربية
Abstract:The Russian central bank, which has lost access to nearly half of its gold and forex reserves due to Western sanctions, had accumulated foreign currency in cash that it has used, Central Bank Deputy Governor Ksenia Yudayeva said on Friday.
The Russian central bank, which has lost access to nearly half of its gold and forex reserves due to Western sanctions, had accumulated foreign currency in cash that it has used, Central Bank Deputy Governor Ksenia Yudayeva said on Friday.
Foreign sanctions have frozen about $300 billion of around $640 billion that Russia had in its gold and forex reserves when Russia started what it calls “a special military operation” in Ukraine on Feb. 24.
Yudayeva said the central bank sanctions left it with less liquid reserves in gold and the Chinese yuan.
“We also had been accumulating cash FX. And it came in useful,” Yudayeva told a webinar on the Russian financial sector hosted by the Higher School of Economics university in Moscow.
Yudayeva did not disclose the amount of cash FX used.
Russia's gold and forex reserves fell sharply to $604.4 billion by March 25 from a record high of $643.2 billion as of Feb. 28.
The central bank explained the decline by its short-lived forex interventions and refinancing operations, as well as by a revaluation of assets in reserves.
The Russian central bank had assessed the probability that its gold and foreign reserves could be frozen as low, Yudayeva said earlier this week.
On Friday, Yudayeva said sanctions against Russia will have a negative impact on the global economy, adding that a ban on operations with the central bank and the government was unprecedented.
To address the aftermath of sanctions and a sharp drop in the rouble after Feb. 24, the central bank imposed foreign exchange controls to support liquidity. But the bank still aims to preserve market pricing principles and a rouble exchange rate determined by the market, Yudayeva said.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
Every professional trader follows a structured approach to ensure they are well-prepared, disciplined, and able to seize opportunities with confidence. Whether you are a seasoned investor or an aspiring trader, adhering to a robust daily checklist can significantly enhance your performance. Use this checklist to check if you are a qualified trader
Interest rate changes determine currency attractiveness, influencing capital flows and exchange rate trends. Understanding this mechanism helps investors navigate the forex market effectively.
A 47-year-old housewife in Malaysia recently fell victim to an online investment scam, losing a substantial sum of RM288,235 after engaging with a fraudulent scheme advertised on Facebook.
In today’s digital age, reviews influence nearly every decision we make. When purchasing a smartphone, television, or home appliance, we pore over customer feedback and expert opinions to ensure we’re making the right choice. So why is it that, when it comes to choosing an online broker where real money and financial security are at stake many traders neglect the crucial step of reading reviews?