Russia inches back toward dollar assets

Bank of Russia

Figures released by the Bank of Russia on Monday showed an increase in dollar asset holdings, as the central bank backed away from riskier assets in favour of the safety provided by Treasury bills, despite lower yields.

The data, contained in the central bank's third quarterly report on foreign currency assets, showed that it held 46.4% of its reserves, measured at the end of 2009, in dollar assets. On 1 January 2009, dollar assets accounted for 41.5% of its reserves. At the same time, the total

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