According to the Central Bank report, the bank decided to raise the reserve rate of the official currency to 4.5% from 4%, which was expected in April and May this year.
The report indicates an increase in the foreign currency reserve requirement ratio for non-friendly countries, the bank increased it from 1% to 8.5%, and for foreign currencies of friendly countries, the reserve requirement increased from 5, 5% to 6% previously.
In a previous statement to Russian Central Bank chief Elvira Nabiullina last month, she said her country is currently building up assets and reserves that Western sanctions cannot target.
He also indicated that “the reservists will be able to face possible future Western sanctions”, without giving more details.
Russia ranks sixth in the world as the country with the most gold in its reserve holdings, with 2,329 tons, according to the latest data from the World Gold Council last March.
In addition to gold, the Russian Central Bank has assets denominated in Chinese yuan, as one of the tools for diversifying assets and foreign exchange reserves.
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