Latest topics
world currency affairs
Page 1 of 1
world currency affairs
Foreign and Military Affairs
China, Russia sign revised currency agreement
(Xinhua)
Updated: 2011-06-23 21:09
Comments(1) PrintMail
Large Medium Small
BEIJING - The People's Bank of China, the country's central bank, said on Thursday that it has signed a revised bilateral currency settlement agreement with the Central Bank of the Russian Federation.
Related readings:
China, Russia sign revised currency agreementWu:closer ties between Sino-Russia lawmakers
China, Russia sign revised currency agreementHu's Russia visit ushers in a new era of co-op
According to the revised agreement, individuals and corporations from both countries will be able to conduct settlements and payments using the yuan, the ruble and freely convertible currencies, the central bank said in a statement on its website.
In addition to border trade, ordinary trade may also be settled in both countries' official currencies, following the revision of the agreement.
The move will help promote bilateral financial cooperation, trade and investment, the statement said.
Analysts said the move will be of great significance in reducing reliance on the U.S. dollar in bilateral trade, lowering exchange rate risks and promoting the internationalization of the yuan.
China, Russia sign revised currency agreement
(Xinhua)
Updated: 2011-06-23 21:09
Comments(1) PrintMail
Large Medium Small
BEIJING - The People's Bank of China, the country's central bank, said on Thursday that it has signed a revised bilateral currency settlement agreement with the Central Bank of the Russian Federation.
Related readings:
China, Russia sign revised currency agreementWu:closer ties between Sino-Russia lawmakers
China, Russia sign revised currency agreementHu's Russia visit ushers in a new era of co-op
According to the revised agreement, individuals and corporations from both countries will be able to conduct settlements and payments using the yuan, the ruble and freely convertible currencies, the central bank said in a statement on its website.
In addition to border trade, ordinary trade may also be settled in both countries' official currencies, following the revision of the agreement.
The move will help promote bilateral financial cooperation, trade and investment, the statement said.
Analysts said the move will be of great significance in reducing reliance on the U.S. dollar in bilateral trade, lowering exchange rate risks and promoting the internationalization of the yuan.
hound- Active Member
- Posts : 66
Join date : 2011-06-18
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum
Mon Apr 29, 2024 4:13 pm by Mission1st
» The Rockefellers and the controllers are freaking out right about now
Fri Apr 26, 2024 11:16 am by kenlej
» Phony Tony sez: Full Steam Ahead!
Sat Apr 13, 2024 11:51 am by Mission1st
» Dave Schmidt - Zim Notes for Purchase (NOT PHYSICAL NOTES)
Sat Apr 13, 2024 11:45 am by Mission1st
» Russia aren't taking any prisoners
Fri Apr 05, 2024 6:48 pm by kenlej
» Deadly stampede could affect Iraq’s World Cup hopes 1/19/23
Wed Mar 27, 2024 6:02 am by Ditartyn
» ZIGPLACE
Wed Mar 20, 2024 6:29 am by Zig
» CBD Vape Cartridges
Thu Mar 07, 2024 2:10 pm by Arendac
» Classic Tony is back
Tue Mar 05, 2024 2:53 pm by Mission1st
» THE MUSINGS OF A MADMAN
Mon Mar 04, 2024 11:40 am by Arendac
» Minister of Transport: We do not have authority over any airport in Iraq
Mon Mar 04, 2024 11:40 am by Verina
» Did Okie Die?
Mon Mar 04, 2024 11:34 am by Arendac
» Hello all, I’m new
Wed Jan 31, 2024 8:46 pm by Jonny_5
» The Renfrows: Prophets for Profits, Happy Anniversary!
Wed Jan 31, 2024 6:46 pm by Mission1st
» What Happens when Cancer is treated with Cannabis? VIDEO
Wed Jan 31, 2024 8:58 am by MadisonParrish
» An Awesome talk between Tucker and Russell Brand
Wed Jan 31, 2024 12:16 am by kenlej
» Trafficking in children
Mon Jan 29, 2024 7:43 pm by kenlej
» The second American Revolution has begun, God Bless Texas
Mon Jan 29, 2024 6:13 pm by kenlej
» The Global Currency Reset Evolution Event Will Begin With Gold, Zimbabwe ZWR Old Bank Notes
Sun Jan 28, 2024 3:28 pm by Mission1st
» Tucker talking Canada
Wed Jan 24, 2024 6:50 pm by kenlej