Russia's central bank sold 62 tons of gold over ten months, cutting reserves to 72.8 million ounces to cover a doubled 7.3 trillion ruble budget deficit.
I think it’s the very fact they had to dip into it. They don’t have enough liquid cash floating around, so they ALSO have to now start dipping into the emergency funds.
I think it’s the very fact they had to dip into it. They don’t have enough liquid cash floating around, so they ALSO have to now start dipping into the emergency funds.