Vladimir Putin said that he expects the number of transactions settled in renminbi and roubles between Russia and China to grow rapidly, buoyed by swelling trade between the two countries.
So far, the level of cross-border settlement in national currencies has been “somewhat low” said Putin but that is set to change, the Russian president added during a packed conference in Moscow on Wednesday.
Both Russia and China have been pushing for the wider international use of their national currencies partly to reduce their reliance on the US dollar for trading. Russia is also hoping to attract more investment from China and is keen to build the...
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