Russian finance minister says that it is reasonable to build up reserves in gold and yuan
Russian finance minister says that it is reasonable to build up reserves in gold and yuan, as both assets are seen as safe haven investments. He added that Russia’s central bank is currently evaluating the possibility of increasing its holdings of these assets.
This further highlights the deepening ties between China and Russia as the latter is being shunned by the West. In any case, the yuan has been growing in popularity with Russians over the past two decades and this is significant considering that the country holds one of the largest foreign currency reserve assets in the world.
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