Russia tackles ‘toxic’ currencies ...News

The Central Bank suggests firms should dump their dollars and euros in favor of “friendly” denominations Russia’s central bank has called on manufacturers and non-financial services providers to convert their dollar and euro holdings to “friendly” currencies such as the Chinese yuan. The proposal was put forward in a document for public discussion released by the regulator on Thursday, dedicated to developing key areas of the financial market under sanctions. “The blocking of Russian assets by unfriendly countries, as well as operational restrictions on settlements in the world’s major reserve currencies, create r

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