The yuan is not a freely convertible currency, so even within five years it is not certain that it will become more valuable to Russia than the dollar. This opinion was expressed by the former Minister of Economy of Russia, head of the Civil Initiative party Andrey Nechaev. transmits RIA News.
“I have a quick question: we firmly believe that in five years, we will need the yuan more than the dollar, neither today nor tomorrow, since China has always looked after only its own national interests in everything. I am not sure if it is possible to answer this question with 100% probability in the affirmative… China is another matter, if China develops its financial market and most importantly produces the yuan, the yuan can become the reserve currency. fully convertible. But we know very well that the yuan is not like that right now.”
According to Nechaev, although the share of the dollar in international settlements has indeed fallen slightly, there has been no fundamental change yet.
The yuan’s share in international payments made through the SWIFT system, according to RIA Novosti reached The record of the last year and a half with 2.54%. On a monthly basis, it increased by 0.25 points compared to April 2023. In May 2023, the dollar remained the most popular currency for international payments. Its share was 42.6%, but decreased by 0.11 points compared to April.
used to be Aksakov saidWhen it is worth waiting for the collapse of the United States.