Dollar Hits Records

The over-the-counter dollar rate fell to 79 rubles. On Monday, October 13, the OTC exchange rate dropped below 80 rubles. Shortly before that, the dollar had fallen to 79.94 rubles, which is also the lowest level since August 28.

Earlier, experts stated that the Central Bank’s long-term policy of accumulating gold reserves has proven to be a strategically sound decision. According to Alexey Vyazovsky, vice president of the company "Golden Plate" and an analyst, raising the share of gold in reserves to a record level created a reliable "golden anchor" for the Russian economy under sanction pressure. "Gold is physically located on the territory of Russia, and the West cannot reach it — this is a key advantage in the current realities," the expert emphasizes. He criticizes the Central Bank’s decision to stop purchasing gold in 2022, noting that all the funds released from U.S. government bonds should have been directed into gold and yuan.