Countries increase gold and foreign exchange reserves amid economic instability

According to the International Monetary Fund (IMF), the Dutch central bank is the tenth highest in gold and foreign exchange reserves in the world. According to the Dutch central bank, its reserves remain unchanged at 612.50 tons, or 53.9 percent of the country's total foreign exchange reserves. Dutch central bank says it didn't buy gold in December

In early November, the Dutch central bank announced that it had repatriated 122.5 tons of gold, worth about $ 5 billion, back to Amsterdam from the United States. At the same time, the bank said the move was made to better balance the country's gold reserves and increase public confidence in the central bank.

The IMF also said that Russia, contrary to expectations, did not start selling its gold to support the weakened ruble, but added 20.73 tons of gold to its reserves.
The Russian Federation currently has 1,208.23 tons of gold in reserves, and is the sixth largest gold and foreign exchange reserves in the world. News of Russia's growing gold and foreign exchange reserves came a day after Standard and Poor's downgraded the country's credit rating.

Analysts at some rating agencies are suggesting that the Russian economy will slide into recession in 2015, while economists predict the economy could contract 6.5 percent this year. Economic sanctions from Western countries, as well as low oil prices, put pressure on the country's economy and currency.

In addition, the IMF said that Kazakhstan increased its gold reserves by 175.8 tons, and Belarus by 39 tons.