Yuan emerging as global reserve currency – Russian development official ...News

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Yuan emerging as global reserve currency – Russian development official
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The world has taken “significant” steps towards ending dependence on the US dollar, the head of VEB.RF has said The Chinese yuan is gradually depriving the US dollar of its competitive advantage and has acquired the status of a global reserve currency, Igor Shuvalov, head of Russian state development corporation VEB.RF, said on the sidelines of the St. Petersburg International Economic Forum (SPIEF 2023) on Thursday. According to Shuvalov, countries around the world have already made “significant” progress toward abandoning their dependence on the greenback, and “this process will continue.” “Even those who are on

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