Russia holds the world's fifth-largest gold & foreign currency reserves, with 2,298.53 tons stocked.
BRICS confirmed an International reserve currency based on a basket of currencies backed by gold and other assets.
Russia overtook China as the fifth-largest holder of the yellow metal in 2018.
The Central Bank of Russia is stocking gold at fastest pace in years.
President Putin has aggressively pushed a program of rapidly increasing the nation’s gold reserves over the last years.
The Moscow Exchange started trading settled gold futures contracts denominated in Russian rubles.
Rosbank has brokered Russia's first deal involving the exchange of tokenized gold with the digital ruble.
Russia may issue a stablecoin backed by gold, lawmaker confirms.
Gold/Ruble live chart:
The Russian Ruble, also known as the RUB or ₽, is the official currency of the Russian Federation.
The Russian Ruble plays a significant role in the process of dedollarization, reflecting evolving economic, political, and strategic dynamics in the global landscape.
The trend towards reducing reliance on the US dollar is a significant development with wide-ranging consequences.
Nations are increasingly looking for ways to safeguard their economic sovereignty and diversify their financial holdings, and this could ultimately lead to a more balanced, multipolar world of currencies in international finance.