Russia » Economics
Author`s name Dmitry Sudakov

Russian minister stops international dollar decline

Russia’s Finance Minister Aleksei Kudrin stopped the decline of the dollar rate in the world. The statement, which the minister released in Italy, made the US currency grow against 15 of world’s 16 basic currencies.

Russia’s international reserves will be kept in US Treasury bonds, and Russia will not be changing the structure of sovereign funds, Mr. Kudrin said at the meeting with G7 finance ministers in Italy, The Kommersant newspaper wrote.

In addition, Aleksey Kudrin refused to discuss anything about the idea of creating new reserve currencies. The minister’s statement was perceived as a refusal to form the plans to diversify international reserves to the detriment of the dollar, Bloomberg said.

Aleksey Kudrin confirmed the status of the dollar as the world reserve currency after his meeting with US Treasury Secretary Timothy Geithner. Kudrin said that he did not discuss the question of selling Russia ’s US Treasury bonds in order to purchase the bonds of the International Monetary Fund.

“We do not plan to change the structure of the reserves in the nearest future,” Kudrin said and added that “the nearest future” meant “longer than a year.”

It is worthy of note that another Russian official, first deputy chairman of the Central Bank of the Russian Federation, Aleksey Ulyukayev, triggered the decline of the US dollar on world markets several days before. “The more opportunities we have to diversify the Russian reserves, the better,” Ulyukayev said.

Ulyukayev said that the Bank of Russia was going to cut the investments in US Treasuries. He also said that Russia ’s Central Bank intended to invest up to $10 billion in the IMF bonds.

Comments
The need for a Global Political Agenda 2018
Pentagon can not accept Russia's victory over terrorists in Syria
Pentagon can not accept Russia's victory over terrorists in Syria
Putin: Russia will continue spending enough on defence not to be killed
Italy: Free fall
Tel Aviv, Jerusalem, capitals and puppets
North Korea declares victory over USA
The Myth of the Gene: Genetics, Epigenetics and the Organism-Environment Loop
Russia unveils the date for the launch of the superbridge to Crimea
The Myth of the Gene: Genetics, Epigenetics and the Organism-Environment Loop
Putin to Sobchak: We will never let them turn Russia into another Ukraine
Putin to Sobchak: We will never let them turn Russia into another Ukraine
Putin: Russia will continue spending enough on defence not to be killed
The Myth of the Gene: Genetics, Epigenetics and the Organism-Environment Loop
Turkish President Erdogan issues ultimatum to Washington and Brussels
New Syria to be born in Russia's Sochi
New Syria to be born in Russia's Sochi
Torturing Jerusalem with USA's help: No peace, but eternal war for Jews and Arabs
Putin: Russia will continue spending enough on defence not to be killed
Putin: Russia will continue spending enough on defence not to be killed
Putin: Russia will continue spending enough on defence not to be killed