Russian govt admits dominance of foreign currencies in settlements between EEU countries
<p> MINSK, Jan 28 - PrimePress. The Russian government is solving the problem of the dominance of foreign currencies in settlements between the countries of the Eurasian Economic Union (EEU - Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia), which, in particular, is associated with low liquidity in national currency pairs. </p> <p> </p> <p> Deputy Finance Minister Alexei Moiseyev made a statement to this effect on January 28 during the roundtable "Ensuring financial and economic sovereignty and protection of monetary circulation in the EEU”. </p> <p> </p> <p> In his words, national currencies are used for settlements between counterparties in the EEU quite widely. For example, the Russian ruble (RUB) accounts for three quarters of all export settlements between Russia and Belarus, imports - four fifths. Export settlements between Russia and Kazakhstan - 61% and 46%, respectively. </p> <p> </p> <p> The Russian Deputy Minister of Finance point out that “global practices so far speak against settlements in national currencies”. </p> <p> </p> <p> According to estimates of the Eurasian Economic Commission, the share of EEU national currencies in servicing global trade is about 2%, in mutual trade - about 74%. End </p>
2021-01-29
Primepress
Russian govt admits dominance of foreign currencies in settlements between EEU countries
MINSK, Jan 28 - PrimePress. The Russian government is solving the problem of the dominance of foreign currencies in settlements between the countries of the Eurasian Economic Union (EEU - Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia), which, in particular, is associated with low liquidity in national currency pairs.
Deputy Finance Minister Alexei Moiseyev made a statement to this effect on January 28 during the roundtable "Ensuring financial and economic sovereignty and protection of monetary circulation in the EEU”.
In his words, national currencies are used for settlements between counterparties in the EEU quite widely. For example, the Russian ruble (RUB) accounts for three quarters of all export settlements between Russia and Belarus, imports - four fifths. Export settlements between Russia and Kazakhstan - 61% and 46%, respectively.
The Russian Deputy Minister of Finance point out that “global practices so far speak against settlements in national currencies”.
According to estimates of the Eurasian Economic Commission, the share of EEU national currencies in servicing global trade is about 2%, in mutual trade - about 74%. End