World News@lemmy.worldEnglish • 1 year ago

China’s yuan replaces US dollar as ‘primary’ currency for Russia’s foreign trade

www.scmp.com

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China’s yuan replaces US dollar as ‘primary’ currency for Russia’s foreign trade

www.scmp.com

@Rapidcreek@lemmy.world to

World News@lemmy.worldEnglish • 1 year ago

Russian central bank governor Elvira Nabiullina says the yuan’s share in Russia’s exports has increased from 0.4 to 34.5 per cent, replacing the US dollar and euro as its ‘primary’ currency for foreign economic activity.

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Digitalprimate
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7•1 year ago
Yeah, no. Crude and coal are still 95% USD denominated, and that’s more than half Russia’s exports.

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