has anyone seen this statement and what do you think the
ramifications of the dollar will be?
HONG KONG (MarketWatch) -- China and Russia will stop using the
U.S. dollar to settle bilateral trade and instead use the ruble or
the yuan, though the move is not meant to signal a challenge to the
dollar, according to reports Wednesday. China's Premier Wen Jiabao
and Russian President Vladamir Putin made reference to the new
currency trade pact late Tuesday, following meetings in St.
Petersburg that also saw the signing of bilateral trade and
energy-cooperation agreements, according to a report in the
state-run China Daily. "About trade settlement, we have decided to
use our own currencies," Putin told reporters, according to the
report. Earlier this week, China added the ruble to the list of
currencies that can be traded against the yuan on its domestic
exchange.
when this news was breaked during the morning, the euro slipped
a bit, but in short term this is more politics than anything else.
in the long run it can be bad for the dollar, but we are probably
talking about years ahead, i think. IMFs sdr can be an
option
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dollar
Posted by rkelman on 23rd of Nov 2010 at 11:56 pm
has anyone seen this statement and what do you think the ramifications of the dollar will be?
HONG KONG (MarketWatch) -- China and Russia will stop using the U.S. dollar to settle bilateral trade and instead use the ruble or the yuan, though the move is not meant to signal a challenge to the dollar, according to reports Wednesday. China's Premier Wen Jiabao and Russian President Vladamir Putin made reference to the new currency trade pact late Tuesday, following meetings in St. Petersburg that also saw the signing of bilateral trade and energy-cooperation agreements, according to a report in the state-run China Daily. "About trade settlement, we have decided to use our own currencies," Putin told reporters, according to the report. Earlier this week, China added the ruble to the list of currencies that can be traded against the yuan on its domestic exchange.
dollar
Posted by lebow on 24th of Nov 2010 at 09:52 am
when this news was breaked during the morning, the euro slipped a bit, but in short term this is more politics than anything else. in the long run it can be bad for the dollar, but we are probably talking about years ahead, i think. IMFs sdr can be an option