(Archyde.com) – Russia is considering buying up to $70 billion in foreign currency this year to keep the ruble at bay, according to Bloomberg News. Currencies from “friendly” countries such as the Chinese yuan are said to be targeted.
This was reported, citing multiple sources.
A proposal prepared for a meeting of the Russian government and central bank said, “In the new circumstances, it is extremely difficult and unwise to accumulate highly liquid foreign exchange reserves to prepare for future crises.” It is said that there is
The central bank of Russia was not immediately available for comment.
