Drop that Dollar and a very smart move by Russia…

Earlier, Russian Finance Minister Anton Siluanov said that the share of the dollar in the National Wealth Fund would be cut to zero.The Russian government has been preparing to transfer all currency liquidity from the dollar to the euro, the country’s Finance Ministry announced on Monday.Relevant instructions may be sent to state-run companies, the ministry added. This comes after an announcement from Russian Finance Minister Anton Siluanov earlier this month that the dollar reserves in the National Wealth Fund would be cut to zero. He added that reserves of Britain’s sterling will be cut to 5 percent whereas the euro and yuan holdings will be raised to 40 and 30 percent respectively.

Source: Russia Prepares to Transfer All Currency Liquidity From Dollar to Euro – Sputnik International

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