The first year of President Vladimir Putin’s experiment in diversifying away from the U.S. dollar cost Russia about $7.7 billion in potential returns.nnRussia’s central bank added exposure to underperforming currencies such as the euro and yuan just as it missed out on a 6.5 percent rally in the greenback. If it had maintained the previous dollar-heavy structure of it $531 billion reserves, gains for the year through March would have totaled around 3.8 percent, according to Bloomberg calculations.
Bloomberg: Putin’s big dollar dump cost Russia $8 billion in 1 year
A Russian ruble coin is pictured with US dollar bills and a one dollar coin in Moscow, on August 23, 2018.
