Russian Finance Minister: Gold’s Share in Global Reserves Has Surpassed That of the Euro
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(1) Russian Finance Minister Siluanov stated in an interview with Sputnik on the eve of the New Development Bank Board of Governors meeting that global confidence in traditional reserve currencies is declining, so the proportion of gold in foreign exchange reserves has surpassed that of the euro. (2) Siluanov pointed out that currently the US dollar accounts for about 57% of international reserves, the euro for slightly more than 20%, and gold for 23%. This means that the share of gold in reserves has already exceeded the euro.
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