>

Belarus in terms of yuan

Jul 30th, 2009 | By admin | Category: Main News

in the accounts of the National Bank of Belarus appeared yuan. Swap transaction with the Central China concluded, exchange took place. In our account was the equivalent of about $ 3 billion - the head of the National Bank of Belarus Piotr Prokopovich on Wednesday, July 29. While these funds may not be used.

In accordance with Chinese law yuan turnover is possible only within the country. According Prokopovich, China is already preparing a regulatory framework and in a few months will change that would allow this deal real filling. A currency swap with Belarus, China agreed to further this spring. Under the deal, China has provided 20 billion yuan, Belarus - almost eight trillion national rubles. The term of the agreement is three years.

This is a start at 5-10 years ahead - described the importance of the transaction head of the National Bank of Belarus, adding that in the next 2-3 years, the IMF may include Chinese yuan in the reserve currency. We are ready to maximize the use of Chinese currency in the calculations, and soon it will be possible, - said Prokopovich.

swap line implies that China and Belarus produce a mutual exchange of currencies at a time. As a result, Belarus will be able to import Chinese goods for the yuan, and China Goods for the Belarusian Ruble. But, given that compete with Chinese goods Goods will not be able to, this Agreement, but rather beneficial to China, not Belarus, - explains the chief of analytical department of the CC Alpari Yegor Susin.

addition to Belarus, the authorities of China have agreed on a currency swap with a further five countries: Argentina, Hong Kong, Indonesia, Malaysia, South Korea.

Negotiations for a similar currency swap transactions Belorussiya leads to other major trading partners: Russia, Ukraine and the EU.

agreement on the deal with the National Bank of Ukraine has already been achieved.

In the coming months, in Kiev, we will continue this work. It is important to move to settlements in national currencies. Now in trade with Ukraine at the national currency accounted for only 5-8%, - explained Prokopovich. Go to the national currency will, on the calculation of the Belarusian side, increase in trade turnover between the two neighbors, who fell in a shortage of hard currency in Belarus and Ukraine.

desire to move to settlements in national currencies has long been said, and Russia. This would make Russia's economy less dependent on fluctuations in the dollar and euro. The idea of switching to local currency is discussed including with China. I believe that it is appropriate to review the experience of China's trade to transfer payments in local currency. The issue we discussed with the leadership of the PRC, - stated the President of Russia Dmitry Medvedev at a meeting on the development of the Far East and cross-border cooperation with China and Mongolia at the end of May.

Prosecutor General's Office has identified violations of the Gosfinuslug
The oil and gas sector shows growth: Gazprom (3.2%), LUKoil (2.9%), Rosneft (2.4%), Surgutneftegaz (1.8%)
The Russian market remains fundamentally attractive for foreign investors
The Russian market could continue its growth and in the evening, even with the neutral of negative data from the U.S. Labor Market
Revenues Chuvash Power Company RusGidro on the basis of 1 semester of 2009 amounted to 3.298 billion rubles
Futures on the SP 500 index increased by 0.7%
By the morning of Thursday, most metals have chosen the green area at the same time with a moderate decline in the dollar
The technical analysis of currency pairs
MFI: Applications for the competition on sale of Odessa port plant has already filed 9 companies

Leave Comment

You must be logged in to post a comment.