Russian Deputy Prime Minister Alexander Novak told reporters that Russia and Iran are discussing mutual agreements in Chinese yuan. At the same time, payments between countries in national currencies (roubles and riyals) account for more than 80%.
“Today we discussed these issues in great detail, we had the Ministry of Finance and the Central Bank on one side, our Iranian colleagues… We are thinking… the currency of other countries, including the yuan, is one of these areas… Our banks are working in this direction,” he said.quotation according to RIA Novosti).
According to Novak, more than 80 percent of exchanges between countries are in national currencies, while the share of euros and dollars and other currencies in exchanges is less than 20 percent.
May 5, China daily knowledgeableIn March this year, the share of the yuan in China’s cross-border payments rose to 48%. According to this indicator, the Chinese currency has outstripped the American currency with a share of only 47%. The publication said that the upward trend in the yuan’s role in Chinese settlements may continue in the future.
April 20, Capital Lab partner Evgeny Shatov judicial “Izvestia” reasons why the countries of the world are interested in abandoning the dollar. According to him, these include the blocking of Russian gold and foreign exchange reserves, the growing US debt and the growing popularity of the yuan.