Russia’s on the Way Back

Yellen and Nabiullina

 

Russia is poised to break out of its oil-related slump and become one of the best performing emerging markets economies in the years ahead. This sleeping giant is breaking its dependence on oil prices and embraces diversified growth.

When you hear the name “Russia” you probably run for cover. Russia has been the subject of nearly continuous media coverage bordering on frenzy since the election of Donald Trump last November. Continue reading

Russia is boosting its gold reserves as prices plunge

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Russia has been building its gold reserves as part of a continuing effort to reallocate its reserve portfolio.

“Russia has been aiming to diversify its forex reserves for some time, but that process was accelerated by sanctions against the country last year,” said Martina Bozadzhieva, head of research for Europe, Middle East and Africa at Frontier Strategy Group. Continue reading

Russia’s Central Bank ready to make foreign currency interventions to keep up ruble

The CBR also says that the current ruble devaluation creates risks for financial stability

MOSCOW, December 4. /TASS/. The Central Bank of Russia (CBR) said it was ready to make foreign currency interventions without limits in amounts, as the current ruble rate has deviated considerably from fundamentally reasonable values.

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