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.
As the 2024 U.S. presidential race approaches, investors worldwide are closely watching potential outcomes and their implications for global markets. While a 269-269 Electoral College tie between Vice President Kamala Harris and former President Donald Trump remains unlikely, its occurrence would set the stage for an unprecedented period of political uncertainty, triggering a contingent election decided by Congress. Such uncertainty would ripple across forex, stock, and oil markets, where stability and predictability are prized. Here’s a look at how a tie could affect these key financial sectors.
A former finance officer in Malaysia lost RM450,000 in savings after being deceived by an investment scheme advertised on social media.
A 50-year-old Malaysian woman experienced a devastating loss exceeding RM80,000 after falling victim to an online investment scam that preyed on her aspirations for substantial returns. The victim, a former secretary at a private firm, had initially hoped to secure a profitable investment opportunity but instead found herself deceived by a fraudulent scheme.
CMC Markets partners with ASB Bank to offer NZ clients advanced trading technology, access to global markets, and enhanced investment tools on ASB's digital platforms.