https://en.sputniknews.africa/20241120/ruble-settlements-with-africa-reached-record-721-in-september-central-bank-of-russia-reports---1069319520.html
Ruble Settlements With Africa Reached Record 72.1% in September, Central Bank of Russia Reports
Ruble Settlements With Africa Reached Record 72.1% in September, Central Bank of Russia Reports
Sputnik Africa
For more than two years, Russia has been strategically shifting its trade toward the ruble and the currencies of its friendly countries. This effort has... 20.11.2024, Sputnik Africa
2024-11-20T18:01+0100
2024-11-20T18:01+0100
2024-11-20T18:37+0100
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Ruble settlements with African countries reached a record number of 72.1% in September, the Central Bank of Russia reported. The financial regulatory body noted that in the same month, the share of payments in Russian rubles when paying for imports to Russia and rendering services has amounted to a record 48.5%. The previous maximum was recorded in July this year, the organization added. The Central Bank said that Russia has reduced the use of the dollar and euro in settlements with friendly countries in Africa, Asia, and Latin America. The share of payments in these currencies when paying for imported goods and services fell to 18.4%. According to a joint statement released following the first Russia-Africa ministerial conference that took place on November 9-10 in Russia's Sirius Federal Territory, the participants of the conference consider it important to expand the use of national currencies in mutual trade and financial settlements. There is also a discussion about a common currency for BRICS member countries. However, Russian President Vladimir Putin said on the sidelines of the Valdai International Discussion Club on November 4-7 that it is too early to talk about creating a single BRICS currency, and there is no such goal.
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russia, ruble, africa, asia, brics, vladimir putin, local currency, north africa, russia-africa partnership forum, valdai discussion club, trade, finance, latin america, russian central bank
russia, ruble, africa, asia, brics, vladimir putin, local currency, north africa, russia-africa partnership forum, valdai discussion club, trade, finance, latin america, russian central bank
Ruble Settlements With Africa Reached Record 72.1% in September, Central Bank of Russia Reports
18:01 20.11.2024 (Updated: 18:37 20.11.2024) For more than two years, Russia has been strategically shifting its trade toward the ruble and the currencies of its friendly countries. This effort has effectively dethroned the dollar and the euro in terms of Russian trade, where they were the dominant currencies used in transactions before February 2022.
Ruble settlements with African countries reached a record number of 72.1% in September, the Central Bank of Russia reported.
The financial regulatory body noted that in the same month, the share of
payments in Russian rubles when paying for imports to Russia and rendering services has amounted to a record 48.5%. The previous maximum was recorded in July this year, the organization added.
The Central Bank said that Russia has reduced the use of the dollar and euro in
settlements with friendly countries in Africa, Asia, and Latin America. The share of payments in these currencies when paying for imported goods and services fell to 18.4%.
According to a joint statement released following the first Russia-Africa ministerial conference that took place on November 9-10 in Russia's Sirius Federal Territory, the participants of the conference consider it important to expand the use of
national currencies in mutual trade and financial settlements.
There is also a discussion about a common currency for
BRICS member countries. However, Russian President Vladimir Putin said on the sidelines of the Valdai International Discussion Club on November 4-7 that it is too early to talk about creating a single BRICS currency, and there is no such goal.
