Alternative to dollar and euro

Recently, important question raised on of what kind of foreign currency could be used in Russia for circulation. After all, the US dollar, the British pound and the euro have lost trust to be used as a reserve currency.

The main specifics for such currency:

• Exchange rate stability

• Lack of special control in the issuing country

• Liquidity

First of all, Chinese yuan could be highlighted. Today, it is currency that meets all the specifics. The number of ruble/yuan currency transactions is growing. The specialists also giving favor to the Chinese currency.

You can also consider the Indian rupee and the Arabic dirham. But these currencies are not yet so attractive – the rupee is subject to restrictions by the control authority in India, and the dirham is used in a very narrow area and is limited to the market for its use.

Most likely in the near future we should expect that business will work with Chinese yuan frequently.