ROUBLE NOW BACKED BY GOLD!!! - Inside Russia Report

The Russian Central Bank just returned to the 'Gold Standard' by pegging the Ruble to Gold.

"Russia's central bank resumed its gold purchases from local banks on Monday, but it set a fixed price on the precious metal.

Starting this week, the Russian central bank will pay a fixed price of 5,000 roubles ($52) per gram between March 28 and June 30, the bank said on Friday. This is below the current market value of around $68."

More updates from inside Russia as events unfold.
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Sources cited:

Reuters: https://www.reuters.com/business/finance/russian-cenbank-restart-buying-gold-banks-will-pay-fixed-price-march-28-2022-03-25/
Russian Central Bank: https://cbr.ru/press/pr/?file=25032022_192430DKP25032022_182539.htm
Kitco: https://www.kitco.com/news/2022-03-28/Russia-sets-fixed-gold-price-as-it-restarts-official-bullion-purchases.html
NeonRevolt: https://gab.com/NeonRevolt/posts/108026435751497428
Forex charts: https://finance.yahoo.com/

#Russia #Dollar #Gold