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Russian companies prepare to pay for trade in renminbi

 
Anonymous Coward
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06/08/2014 09:32 PM
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Russian companies prepare to pay for trade in renminbi
"There is nothing wrong with Russia trying to reduce its dependency on the dollar -- actually it is an entirely reasonable thing to do," said the Russian head of another large European bank. He added that Russia's large exposure to the dollar subjects it to more market volatility in times of crisis. "There is no reason why you have to settle trade you do with Japan in dollars," he said.

[link to gata.org]





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