Home / Centerstage / 2016 / july / Week 1 /
The Central Bank of Russia announces its intention to buy Chinese yuan as part of its strategy to diversify foreign-currency reserves away from the Euro and U.S. dollar. This move aims to reduce vulnerability to Western sanctions. By expanding its holdings in the yuan, Russia seeks to strengthen economic ties with China and increase the stability of its currency reserves.
Monday, 4 July, 2016