Russian Central Bank Diversifying Foreign-Exchange Reserves Based On Geopolitics - Head

The Russian Central Bank is carrying out diversification of the country's foreign-exchange reserves taking into account the geopolitical, economic and financial risks, the bank's governor, Elvira Nabiullina, said on Thursday, adding that the information about the structure of Russia's international reserves is being disclosed with a lag of six months.

SOCHI (UrduPoint News / Sputnik - 18th October, 2018) The Russian Central Bank is carrying out diversification of the country's foreign-exchange reserves taking into account the geopolitical, economic and financial risks, the bank's governor, Elvira Nabiullina, said on Thursday, adding that the information about the structure of Russia's international reserves is being disclosed with a lag of six months.

"I can only confirm that that we are pursuing the policies of diversification of our international reserves, in particular, in order to ensure their preservation and profitability. We are taking into account the risks of various kinds � economical, financial and geopolitical ones," Nabiullina said on the sidelines of the Finopolis forum of innovative financial technologies in the Russian city of Sochi.

According to the Russian Central Bank, the country's foreign-exchange reserves totaled $459.2 billion as of October 5.

Russia's international reserves include monetary gold, the special drawing rights (SDR), a reserve position in the International Monetary Fund (IMF) and funds in foreign Currency and are being managed by the country's Central Bank and government.