June 29, 2019

Earlier this month, Russia reportedly continued the sell-off of its US bond holdings even as the Russian Central Bank's foreign exchange and gold reserves grew in value to the equivalent of half a trillion dollars.

The share of yuan-denominated assets among Russia's gold and foreign exchange reserves has climbed to about 15 per cent since 2018, Russian Minister of Finance Anton Siluanov has said.

"Over the past year, we have increased the share of holdings in Chinese assets, with approximately 15 percent [of total] investments from our gold and foreign currency reserves held in RMB," the minister said, speaking to Russian media.

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https://sputniknews.com/business/201906291076097545-russia-builds-up-yuan-denominated-assets-after-dumping-dollar-based-holdings/