Chinese yuan

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What will be discussed at the Gaidar Forum?

What will be discussed at the Gaidar Forum?

A Member of the Presidium of the Economic Council under the President of the Russian Federation, the Rector of the Russian Academy of National Economy and Public Administration under the President of the Russian Federation, Vladimir Mau, spoke …

The 7th Gaidar Forum opens

The 7th Gaidar Forum opens

The main issue of the economic discussion of Russian experts at the forum is conditions of launching a new mechanism of growth

Rate of yuan reduced to four-year low

Rate of yuan reduced to four-year low

The People's Bank of China lowered the yuan rate to 6.42 per dollar,  which is the lowest level in four years. It is the second record-breaking drop in the Chinese currency in the last two days. The IMF has …

Is Russian Central Bank moving towards yuan?

Is Russian Central Bank moving towards yuan?

The Russian Central Bank has included the Chinese yuan in the list of the currencies used for investments of gold and foreign exchange reserves, however in the near future it does not plan to make operations on purchase of the assets nominated in …

China launches CIPS international payment system

China launches CIPS international payment system

The Chinese International Payment System (CIPS) has officially begun its operations. A transaction from China to Luxembourg for Sweden's IKEA company was the first operation Experts believe that the CIPS will help integrate the yuan into ...

Expert: Russia may face currency restrictions

Expert: Russia may face currency restrictions

The chairman of the board of the National Currency Association (NCA), Dmitry Piskulov, spoke about the factors influencing the decline of the ruble. The analyst considers that one of the main reasons is the reduction of the Russian economy. …

Lessons from Chinese devaluation

Lessons from Chinese devaluation

Nikita Maslennikov: “The devaluation has given a signal to everyone: it is better to link with fixed rates”

Armenia endangered by fall of the ruble

Armenia endangered by fall of the ruble

The territory of the former Soviet Union and Asian countries may suffer the most because of the problems of the Russian ruble and the depreciation of the Chinese yuan, Bloomberg says. "While Azerbaijan and Georgia have …

Ruble falls to half-year low

Ruble falls to half-year low

This morning, the dollar increased by 0.75 rubles and was worth 65.03 rubles, the euro rose 1.02 rubles and was worth 72.07 rubles at the Moscow Exchange. The euro rose above 72 rubles for the first time since February 24, and the dollar rose …

China provides $1.6 million to Tajikistan

China provides $1.6 million to Tajikistan

The Chinese government provided an urgent humanitarian aid in the amount of 10 million yuan ( $1.6 million) to Tajikistan. "The Ministry of Commerce of China is organizing assistance of humanitarian aid and will continue to follow …

CounterPunch demonizes U.S. financial policy

CounterPunch demonizes U.S. financial policy

CounterPunch has released an article accusing the U.S. of global warmongering to protect the national currency. The article says that the U.S. needs to use all possible means, including war, to protect the dollar's status. Russia and China proposed the idea of forming a neutral currency called Special Drawing Rights, an IMF imitation, the authors of the article point out. So far, the BRICS states have not adopted any currency analogical to the dollar. The idea of making the yuan the regional currency of Asia and the Eurasian Economic Union remains an unrealized fantasy, despite its popularization, RIA Novosti cites CounterPunch.

State Oil Fund of Azerbaijan intends to include yuan in currency basket

State Oil Fund of Azerbaijan intends to include yuan in currency basket

The State Oil Fund of Azerbaijan (SOFAZ) is considering the issue of including the Chinese yuan in SOFAZ’s currency basket, the head of SOFAZ Shahmar Movsumov said. He said that all SOFAZ’s assets, including the investment portfolio, are in foreign currencies.