11 May 2018
Dollars aside: Turkey bought grain for rubles for the first time

Dedollarization becomes a trend. More and more settlements for goods and services between countries are made in national currencies. Recently, Turkey bought wheat for the Russian national currency. In August ALROSA also conducted transactions not in dollars. Experts believe that this is only the beginning. It was noted that at the moment the Central Bank pursues a policy of dedollarization and diversification of international reserves — share of the dollar and euro is gradually decreasing, while the yuan has expanded.

Vladimir Iurievich Salamatov commented on this situation: “If a currency has low volatility and the market of this currency is quite substantial, then such currency is considered as a reserve one. And if there is significant goods traffic with this state, then the presence of this stabilizing additional factor becomes a serious reason for the Central Bank to use the yuan in its currency basket”. 

Full interview: 

Vesti. Economy