Illya Gerasymchuk
Entrepreneur / Engineer
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
🇺🇸🇷🇺 USD/RUB rate already fell to July 24th close, below 80
although it's also important to note that there are several factors at play - USD index is also down today
despite oil down - gold is up. this is about the monetary policy of Russia and their balance sheet structure
