{"id":42560,"date":"2019-01-11T06:45:21","date_gmt":"2019-01-11T11:45:21","guid":{"rendered":"https:\/\/olduvai.ca\/?p=42560"},"modified":"2019-01-11T06:45:21","modified_gmt":"2019-01-11T11:45:21","slug":"russia-backs-away-from-dollar-again-shifts-100-billion-to-yuan-yen-and-euro","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=42560","title":{"rendered":"Russia Backs Away From Dollar AGAIN: Shifts $100 Billion To Yuan, Yen, And Euro"},"content":{"rendered":"

Russia Backs Away From Dollar AGAIN: Shifts $100 Billion To Yuan, Yen, And Euro<\/a><\/h3>\n
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Russia is continuing to ramp up its efforts to move away from the American dollar.\u00a0 The country just shifted $100 billion of its reserves to the yuan, the yen, and the euro in their ongoing effort to ditch the dollar.<\/p>\n

The Central Bank of Russia has moved further away from its reliance on the United States dollar and has axed its share in the country\u2019s foreign reserves to a historic low, transferring about $100 billion into euro, Japanese yen, and Chinese yuan according to a report by\u00a0RT<\/em>.\u00a0<\/a>The share of\u00a0the U.S. dollar in Russia\u2019s international reserves portfolio has dramatically decreased in just three months between March and June 2018.\u00a0 The holding decreased from 43.7 percent to a new low of 21.9 percent, according to the Central Bank\u2019s latest quarterly\u00a0report, which is issued with a six-month lag.<\/p>\n

The money pulled from the dollar reserves was redistributed to increase the share of the euro to 32 percent and the share of Chinese yuan to 14.7 percent. Another 14.7 percent of the portfolio was invested in other currencies, including the British pound (6.3 percent), Japanese yen (4.5 percent), as well as Canadian (2.3 percent) and Australian (1 percent) dollars.<\/p>\n

The Central Bank\u2019s total assets in foreign currencies and gold increased by $40.4 billion from July 2017 to June 2018, reaching $458.1 billion. \u2013RT<\/em><\/a><\/p><\/blockquote>\n

Russian and others have been consistently moving away from the dollar and toward other currencies.\u00a0 Economic sanctions, which are losing their power<\/a> as more countries move from the dollar, and trade wars seem to be fueling the dollar\u2019s uncertainty<\/a>.<\/p>\n

Russia began its unprecedented dumping of U.S. Treasury bonds in April and May of last year.<\/p>\n

\u2026click on the above link to read the rest of the article\u2026<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Russia Backs Away From Dollar AGAIN: Shifts $100 Billion To Yuan, Yen, And Euro Russia is continuing to ramp up its efforts to move away from the American dollar.\u00a0 The country just shifted $100 billion of its reserves to the yuan, the yen, and the euro in their ongoing effort to ditch the dollar. The […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,5],"tags":[1970,1025,1997,6489,694,6490,827,839],"class_list":["post-42560","post","type-post","status-publish","format-standard","hentry","category-economics","category-geopolitics","tag-central-bank-of-russia","tag-de-dollarization","tag-economic-sanctions","tag-mac-slavo","tag-russia","tag-shtfplan-com","tag-united-states","tag-us-dollar"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/42560","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=42560"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/42560\/revisions"}],"predecessor-version":[{"id":42561,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/42560\/revisions\/42561"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=42560"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=42560"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=42560"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}