Oreshkin said that the calculations in national currencies will not significantly affect the ruble exchange rate
Russian Economic Development Minister Maxim Oreshkin told an interview with the Izvestia newspaper that settlements in national currencies would not significantly affect the ruble exchange rate.
“Essentially not. The ruble is generally a stable currency. The macroeconomic policy in terms of inflation targeting and the budget rule that is being implemented in our country influences the exchange rate much more strongly, ”Oreshkin said, answering the question whether the switch to trade in national currencies between China and Russia could affect the exchange rate.
Earlier, the head of Vnesheconombank Igor Shuvalov said that an agreement between Russia and China on settlements in national currencies could be signed before the end of the year.
Vasily Koltashov, head of the Center for Political Economics Studies at the Institute of New Society, in an interview with the publication PolitEkspert assessed the possible creation by Russia and China of a cross-border settlement system using national currencies.