The Japanese write about this, the world’s central banks are diversifying reserves, getting rid of the dollar and the yuan. Nikkei Asia.
According to the IMF, the dollar’s share in foreign exchange reserves fell to its lowest level in history at 58.9%, while the yuan’s fell to 2.2%. In 2023, central banks’ gold purchases increased by 183 tons compared to the previous year, reaching a record level of 1,030 tons.
As countries scramble to balance their foreign exchange reserves amid geopolitical instability and economic turmoil, demand for gold as a defensive asset is rising: global consumption of the metal is set to reach a record 4,899 tonnes in 2023, including investments, jewellery and purchases by the Central Bank.
“Central banks are diversifying their reserves into gold to maintain their value against the weakening dollar and yuan,” experts said.
World gold production increased by 1 percent last year to 3,644 tons.
Before this, it was known how much the Ministry of Finance was. will spend For purchasing foreign currency and gold in August.
Formerly the Bank of Russia recorded Decrease in international reserves of the Russian Federation.
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Source: Gazeta
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