RT: Russia’s sovereign wealth fund cuts US dollar reserves to ZERO
Russia has eliminated US currency from its National Wealth Fund while boosting the share of the euro, the Chinese yuan and gold, the country’s Finance Ministry announced on Tuesday.
The proportion of US dollars in the fund was reduced from 35% to zero, while the share of the British pound was lowered to 5%.
The shares of the euro and the Chinese yuan were increased to 39.7% and to 30.4%, respectively. The share of the Japanese yen stands at 4.7% and the share of non-cash gold is 20.2%, the official statement by the Finance Ministry reads.
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WNU Editor: Russia promised to do this last month .... Russia says it will remove dollar assets from its wealth fund (CNBC).
Update: This is where the fund is putting its money .... Russia's wealth fund abandons U.S. dollar, boosts gold, euro, and yuan - country's Finance Ministry (KITCO).
