Forex Today

Russia mulls buying $70 billion in yuan and other ‘friendly’ currencies- Bloomberg By Reuters

    Share on Facebook Share on Twitter

    © Reuters. FILE PHOTO: Russian Rouble banknote is placed on Chinese Yuan banknotes in this illustration taken May 30, 2022. REUTERS/Dado Ruvic/Illustration

    (Reuters) – Russia is considering a plan to buy as much as $70 billion in yuan and other “friendly” currencies this year to slow the rouble’s surge, Bloomberg News reported on Thursday.

    “In the new situation, accumulating liquid foreign exchange reserves for future crises is extremely difficult and not expedient,” said the text of a proposal prepared for a meeting of Russian government and central bank officials, Bloomberg reported, citing people familiar with the deliberations.

    Russia’s central bank did not immediately respond to a Reuters request for comment.

    Originally Published Here -Source link

    0 0 votes
    Article Rating

    Canadian Dollar Falls On Soft Manufacturing PMI

    Previous article

    The total crypto market cap continues to crumble as the dollar index hits a 20 year high

    Next article

    You may also like

    More in Forex Today

    Notify of
    Inline Feedbacks
    View all comments