In the next decade, the Chinese yuan could replace the dollar, becoming the world’s main reserve currency, VTB chairman Andrey Kostin said. It has been reported TASS.
The head of the bank evaluated the situation and future of the dollar during the Russian-Chinese business forum.
“China is the world’s second economy today and will be the first in the near future,” Kostin said.
According to him, there are all kinds of reasons for such a scenario under the yuan’s leadership.
According to Kostin, the Chinese currency will be the main consensus currency.
At the same time, Kostin recalled that the Central Bank of the Russian Federation has already invested in the Chinese yuan.
happened before knownyuan swap rates have sharply returned to their highest levels since early 2023. Market experts agreed that an increase in yuan swap rates could signal a shortage of Chinese currency in the domestic market.