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Russia’s Terrible Bet on the Euro and Gold

relates to Russia’s Terrible Bet on the Euro and Gold
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Bank of Russia Governor Elvira Nabiullina picked the wrong time to load up on gold and the euro.

The miscalculation means Russia is now down $200 million in its quest to raise international reserves, an effort it suspended Tuesday amid a rout in the ruble, after it spent about $10 billion on foreign currency since mid-May.