Russia's surge in gold buying over the past year is simply down to a wish to diversify its portfolio of reserves, the central bank governor told CNBC Friday.
Russia's gold buying surge over the past year is simply down to a wish to diversify its portfolio of reserves, the central bank governor told CNBC Friday.
Experts have speculated that Western sanctions could have caused the move, with the safe-haven asset being exempt from any possibility of blacklisting. Others suggest Russia wants to reduce its reliance on the U.S. dollar, or is shying away from the euro or the pound, which have seen their values fall due to policy easing and Brexit, respectively.
"You see we try to diversify our international reserves composition. Because we estimate all the possible risks, economic and geopolitical risks," she said.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
MAT: Mattel Inc - Stock Quote and News - CNBCMattel reported $689 million in revenue last quarter, beating analyst estimates of $645 million. The company also reported that Barbie sales were up 7% in Q1.
Read more »
Disney is in talks with Comcast to buy all of Hulu, CNBC saysWalt Disney Co. is in talks to acquire the 30% stake in Hulu held by Comcast Corp., a deal that would hand over complete control of the video-streaming service.
Read more »
Comcast in talks to sell its stake in Hulu to Disney: CNBCComcast Corp is in talks to sell its stake in Hulu to Walt Disney Co, CNBC repor...
Read more »
PYPL: PayPal Holdings Inc - Stock Quote and News - CNBCPayPal saw a bit of a mixed quarter, reporting revenue in-line with estimates and EPS 10 cents above consensus. For the first time, it released active accounts for Venmo, naming 40 million active users.
Read more »
Suzy Welch: The embarrassing (and common) mistake that can cost you a job offerBestselling management author and CNBC contributor Suzy Welch calls this common blunder 'totally avoidable.'
Read more »
Mueller report timeline: what it says about Trump and RussiaThe Mueller reports, indictments and other court documents related to the Special counsel investigation have made public several storylines of problematic behavior during the 2016 presidential campaign, transition and first years of the Trump administration.
Read more »