[Russian Deputy Finance Minister: Russian Bank is considering RMB and UAE dirham to replace the dollar and the euro] Russian media Russian Business Consulting (RBC) reported on September 8, Russian Deputy Finance Minister Alexei Moiseye Russian banks prefer the yuan as the main alternative for payments in dollars and euros, and Russia is also considering the UAE dirham and other currencies in smaller markets, he said.
Russian media Russian Business Consulting (RBC) reported on September 8 that Russian Deputy Minister of Finance Alexei Moiseyev said that Russian banks prefer the RMB as the main alternative for payment in dollars and euros. Consider the UAE dirham and other smaller market currencies.
Moiseyev said that the exchange rate of the UAE dirham is stable, while its use also has constraints because “the UAE’s market is very narrow” compared to China. Moiseyev also pointed out that the possibility of using the Indian rupee is “very limited” because of the relatively strict foreign exchange controls in India.
It is reported that the Russian central bank has listed the Chinese yuan, the Indian rupee and the Turkish lira as candidate currencies that may participate in foreign exchange business under the new budget rules of the Russian Ministry of Finance.