AKIPRESS.COM - Kyrgyzstan’s central bank is buying as much gold as possible in a bid to protect itself from currency volatility in China and Russia.
The country hopes to grow the share of gold in its $2 billion international reserves to 50 percent from around 16 percent now.
“The rules of the game are changing,” Kyrgyz central bank Governor Tolkunbek Abdygulov, 42, said in an interview to Bloomberg. “It doesn’t matter what currencies we have in our reserves; dollars, yuan or rubles all make us vulnerable.”