Worthy Christian News » Russia, China Bypassing Dollar With Currency Agreement

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Worthy Christian News » Russia, China Bypassing Dollar With Currency Agreement

MOSCOW (Worthy News)– The Russian and Chinese central banks have agreed on a draft currency swap agreement, which will allow them to increase trade in domestic currencies and cut the dependence on the US dollar in bilateral payments, RT reported.

"The draft document between the Central Bank of Russia and the People’s Bank of China on national currency swaps has been agreed by the parties," and is at the stage of formal approval procedures, ITAR-TASS quotes the Russian regulator's office on Thursday.

The Russian Central Bank is not giving precise details on the size of the currency swaps, nor when it will be launched. It says this will depend on demand. — Source

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One Comment

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  • Tina Hutto Craig
    11 August 2014 at 9:55 am - Reply

    Interesting… Stay informed!

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