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Bank of Russia does not intend to completely abandon dollar in reserves — Nabiullina

Nevertheless, the head of the regulator noted that "the currency structure of the reserves reflected all sorts of risks, including those of an economic nature"

MOSCOW, June 11. / TASS /. The Bank of Russia does not intend to completely abandon the dollar in reserves, said the head of the regulator Elvira Nabiullina during a press conference on Friday.

"We do not intend to completely abandon the dollar. Nevertheless, the currency structure of the reserves reflects all sorts of risks, including those of an economic nature," Nabiullina said.

According to her, the Bank of Russia made major changes in gold and foreign exchange reserves in 2018, taking into account the profitability, liquidity, and reliability of reserves with economic and non-economic risks. Russia's international reserves are highly liquid foreign assets held by the Bank of Russia and the Russian government. They consist of foreign currency funds, special drawing rights (SDR), reserve position in the IMF, and monetary gold.