Bank of Russia starts selling gold locally
Move is not a sign of budget crisis, experts say
The Bank of Russia has begun selling gold from its reserves locally.
The bank announced on November 19 that it would sell gold on local markets and channel the proceeds to the country’s National Wealth Fund (NWF). However, it did not disclose how much of the precious metal it would sell or the exact details of the auctions.
“The purchase or sale of liquid foreign exchange assets of the NWF (yuan and gold) for rubles entails the Bank of Russia carrying out transactions equivalent in volume in the
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