mo4ch:>Russia’s gold & foreign exchange reserves will soon top $500 billion – Central Bank boss | Mo4ch News

The Central Bank of Russia expects reserves to reach half-a-trillion dollars soon, according to the regulator’s boss, Elvira Nabiullina, who says further accumulation of holdings is part of the national policy.“The figure of $500 billion is not the goal, that’s just a preliminary ranging mark that should be reached for the reserves to provide an adequate margin of safety for the country’s economy,” Nabiullina told journalists on Thursday.According to the central bank chief, such volume of gold bullion and foreign currency holdings is enough to tackle crisis-like episodes.Also on rt.comRussia boosting gold & dumping dollar from foreign currency reserves“We have almost reached that level, and we’ll surpass it in the near future,” the top official said, stressing that the regulator would keep stockpiling as part of its budget strategy.Earlier this month, the central bank reported that holdings amounted to nearly $492 billion against $487.8 billion seen at the end of March.State inter…