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[News] China launches trade swap a pair of yuan-ruble

Nailya
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по убыванию Posted 31.12.2014 18:16:59 | descending
December 29 China launches trade swap a pair of yuan - ruble. As the newspaper notes Zero Hedge, this is a devastating blow to the dollar. The People's Bank of China has proposed the use of a swap line, which was to reduce the role of the US dollar, if China and Russia will need to help each other to overcome the liquidity crisis. The agreement provides for a swap in the amount of CNY150 billion.
"China allows future trade swaps between the yuan and more than three currencies in an attempt to reduce the currency risk against the background of increased volatility in emerging markets. China Foreign Exchange Trade System will start the implementation of such contracts with the Malaysian ringgit, the Russian ruble and the New Zealand dollar on 29 December, according to a statement posted on the organization's website. This practice extends swap RMB trading and 11 other currencies in the interbank foreign exchange market », - Bloomberg writes.
According to a REGNUM correspondent Partner "Business channel", the head of an independent center of expertise "social thinking" Roman Terekhin, trading a pair of yuan-ruble should be able to help relieve some of the dependence of the Russian economy from the dollar. "This will affect the strengthening of the ruble and allow him a little bit to play the position. It is expected that the dollar and euro will drop slightly after the start of trading a pair of yuan-ruble. In addition, it turns out that part of the commodity-money relations will appear in Russia, which are movements of the dollar and the euro will not affect at all. That is, some goods coming from Asia will not be as highly susceptible to inflation, and the price will be established based on the dollar, which means that for these commodities prices will rise much more slowly, "- said the expert.

According to him, the Russian economy trading a pair of yuan - ruble will bring more revenue: "In particular, the rise of the ruble's role in international trade, is likely there will be new investors, and the old ones will not want to leave. This will slow down the outflow of capital from the country. Also, inter-bank foreign exchange payments with China will be conducted without the participation of the dollar, which reduces the costs of currency exchange during operations and reduces the risk of changes in the dollar exchange rate, that is, reduces the loss of the Russian economy. "
http://www.regnum.ru/news/economy/1881411.html
Basilio
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Published on 31.12.2014 21:07:49

Re: China launches trade swap a pair of yuan-ruble

Let's see what this will evolve for the common people.
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Posted on 02/01/2015 2:04:12

Re: China launches trade swap a pair of yuan-ruble

For several years it is possible to pay in China (border) rubles, now it seems to be povsemestno.I Chinese bank in our town there is quite a while ..
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