CIS states may switch to mutual currency rate quotations – Russian Finance Ministry

CIS states may switch to mutual currency rate quotations – Russian
Finance Ministry

The finance ministries of the CIS countries are discussing the issue
of possible mutual currency rate quotations, Russian Deputy Prime
Minister and Finance Minister Alexei Kudrin said on Thursday.
"Mutual quotations for national currencies will significantly ease the
situation,” Kudrin was quoted as saying by RIA Novosti after a meeting
of CIS finance ministers.

Quotes are currently calculated by means of a third currency. Kudrin
said that the switch would lead to a more accurate currency exchange
rates and develop mutual trade between the CIS states.

He also pointed out that it was widespread business practice in Russia
to use roubles in deals with Belarusian companies.