Illya Gerasymchuk
Entrepreneur / Engineer
5 days ago I wrote that USD/RUB rate will fall. 5 days later it's down ≈2%
despite oil being down - gold is up
Ruble has hedge from multiple sides
if you've read my previous posts you know that gold is ≈36% of Russia's international reserves
this is taken straight from the Bank of Russia's balance sheet statement
100% of it is stored in Russia, thus no counterparty risk
critical component of Ruble's strength
