02.06.2023, 11:24
Russia has named alternatives to the dollar and the euro in settlements with other countries
Source: OREANDA-NEWS
OREANDA-NEWS The dollar and euro in Russia's settlements with other countries can be replaced by a number of alternative models. Among the options are currencies of friendly countries, cryptocurrencies, digital "golden ruble". Such schemes of external calculations are called by experts of the Institute of Research and Expertise of VEB, writes RBC.
The most promising scheme in the near future, according to analysts, is the transition to rubles and yuan. Chinese currency, for example, can be used in payments with countries in Asia, Africa, Latin America.
However, payments in Russian currency may provoke the introduction of secondary sanctions against counterparties. At the same time, an increase in the share of the yuan in settlements carries risks of increasing Russia's economic dependence on China, as well as currency risks due to the high overregulation of the Chinese currency, Ksenia Yudaeva, First Deputy chairman of the Bank of Russia, warned earlier.
Another potentially successful model is the expansion of settlements in UAE dirhams and Indian rupees. In the first case, the advantage of the currency lies in its fixed exchange rate linked to the dollar, and in the second — the presence of branches of Russian banks in India and the intention of the authorities of the two countries to explore the possibility of interfacing national payment systems.
The most promising scheme in the near future, according to analysts, is the transition to rubles and yuan. Chinese currency, for example, can be used in payments with countries in Asia, Africa, Latin America.
However, payments in Russian currency may provoke the introduction of secondary sanctions against counterparties. At the same time, an increase in the share of the yuan in settlements carries risks of increasing Russia's economic dependence on China, as well as currency risks due to the high overregulation of the Chinese currency, Ksenia Yudaeva, First Deputy chairman of the Bank of Russia, warned earlier.
Another potentially successful model is the expansion of settlements in UAE dirhams and Indian rupees. In the first case, the advantage of the currency lies in its fixed exchange rate linked to the dollar, and in the second — the presence of branches of Russian banks in India and the intention of the authorities of the two countries to explore the possibility of interfacing national payment systems.
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