Gold Rush by Russia Makes Up for Billions Lost in Currency RoutBy
Reserves rebound after central bank buys gold for 13 months
Bank of Russia suspended foreign-currency purchases last July
Here’s why Governor Elvira Nabiullina is in no haste to resume foreign-currency purchases after an eight-month pause: gold’s biggest quarterly surge since 1986 has all but erased losses the Bank of Russia suffered by mounting a rescue of the ruble more than a year ago.
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