In addition to the yuan, Russia's roughly $200 billion wealth fund could add Indian rupees and Turkish lira, the central bank said.
(Bloomberg) -- Russia is considering purchases of China’s yuan, India’s rupee and Turkey’s lira for its wealth fund under a budget mechanism that uses excess income from energy sales.Most Read from BloombergAuthor Salman Rushdie Stabbed on Lecture Stage in New YorkTrump Calls for Release of Warrant Documents Used in SearchThe Fed’s Damage to the Housing Market May Last YearsExtreme Heat Uncovers Lost Villages, Ancient Ruins and ShipwrecksChina State-Owned Giants to Delist From US Amid Audit Spat
“In addition to the Russian threat from energy prices, the European manufacturing industry now has to contend with drought conditions and low water levels on the Rhine,” added ING. “That will challenge coal shipments, amongst other cargoes, and is keeping European natural gas prices bid near the highs. This factor remains an outright euro negative.”