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re: Moody's downgrades Russia's sovereign credit rating by six notches to "junk" status
Posted on 3/2/22 at 9:57 pm to nola000
Posted on 3/2/22 at 9:57 pm to nola000
quote:
I seem to recall, about ten or so years ago, Russia buying an absolute shite ton of gold. I believe tge ruble has the highest gold backing of any State currency. F y i.
quote:LINK
The latest Bank of Russia reports that only 22% of its international reserves are US Dollars, while gold accounts for 23%.
As of January 28th 2022, Russia holds about $634 billion in international reserves, the world’s 4th largest forex reserves.
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