Saturday, September 6, 2025

Russia’s National Wealth Fund Boosts Share of Chinese Yuan and Eliminates Balances of Pound, Yen

The US dollar, along with other western currencies, are losing their lustre among some major economic superpowers.

Russia’s National Wealth Fund (NWF), which stores revenue from oil exports and is used to support the national pension system and cover budget deficits, has announced that it will double the amount of Chinese yuan it holds to 60%. It will also double the amount of gold it holds to 40%, and slash its balances of British pound and Japanese yen to zero.

The NWF’s assets totaled $186.5 billion as of December 1. The decision to increase the amount of Chinese yuan and gold held by the NWF was made as part of an effort to reduce exposure to currencies of “unfriendly” countries. The head of Russia’s Finance Ministry, Anton Siluanov, has stated that the yuan has the characteristics of a reserve currency and sufficient liquidity on Russia’s domestic foreign exchange market.

The Chinese yuan has been pushing out the US dollar on the Moscow Exchange. Shortly after the West imposed sanctions against Russia and ultimately prevented the country’s central bank from conducting transactions in US dollars, pounds and euros, Moscow embarked on a campaign to shift its reserves into currencies that are easy to access.

Indeed, Yury Denisov, the head of the Moscow Exchange, reported an increase in yuan-ruble trading volumes, which are expected to surpass dollar-ruble trading volumes in 2023 as relations between Moscow and Beijing strengthen.


Information for this briefing was found via Reuters and the sources and companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Goliath Resources Hits 10.60 g/t Gold Over 22.82 Metres, Highest Grade Results In Third Distinct Rock Package At Surebet Discovery

Four Countries Control the Fertilizer That Feeds the World | Sage Potash

$10,000 Gold Is Just A Question of Time | Florian Grummes

Recommended

ESGold Outlines $24.3 Million NPV For Tailings Reprocessing Project

First Majestic Encounters 711 g/t Silver Equivalent Over 8.0 Metres In Ongoing Exploration At Los Gatos

Related News

The Canada Pension Plan’s Russian Assets Are Top Secret

The carnage in Russian equities continued Wednesday, as the market felt its way through the...

Saturday, March 5, 2022, 09:00:00 AM

Russia Braces For Price Hikes on Essentials of up to 40%

Consumers are bracing for a significant surge in food prices as Russian suppliers of essential...

Friday, August 16, 2024, 12:55:00 PM

Russia Suspended From UN Over Alleged Human Rights Abuses in Ukraine

The UN General Assembly on Thursday voted to axe Russia’s membership to the Human Rights...

Friday, April 8, 2022, 10:28:00 AM

Did Vladimir Putin Suffer A Cardiac Arrest?

Russian President Vladimir Putin reportedly suffered a “cardiac arrest” on Sunday evening, as a statement...

Tuesday, October 24, 2023, 02:53:00 PM

Russia Shut Out From Metals Exchanges Under New Sanctions On Aluminum, Copper, Nickel

The US government on Friday introduced fresh sanctions on Russia in an effort to cut...

Saturday, April 13, 2024, 11:41:00 AM