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source: CBR
The ruble is the world's best performing currency against the dollar with +16.4% total return this year.
For some global investors the RUB is increasingly seen as a Gold backed currency. China added 106 tonnes of gold to its official reserves in 2019, while Russia acquired an additional 145 tonnes, making Russia now the 5th largest holder of Gold globally with 2219 tonnes according to the World Gold Council.
61 RUSSIA Country Report December 2019 www.intellinews.com
