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1/10/2019, 10:07 AM (Source: TeleTrader)
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Russia transfers $100B into euro, yen, yuan

Russia transferred around $100 billion into the Japanese yen, Chinese yuan and the euro as it moves away from the United States dollar dependence, RT reported on Thursday, citing the Central Bank’s newest quarterly report, issued with a six-month lag.

During the period between March and June of last year, the share of the greenback in Russia's international reserves portfolio decreased to 21.9%, down from 43.7%.

In October, Russian President Vladimir Putin backed the plan to reduce Russia's dollar dependence, stating that Washington made a mistake by making US currency less reliable.

Breaking the News / BM