The share of currencies other than the U.S. dollar and the euro in international reserves is on the rise, according to a Russian representative. The trend is being observed as a growing number of countries try to use their national currencies in foreign trade settlements, the official noted.
Russia Sees Alternative Currencies Like Chinese Yuan Replacing U.S. Dollar in Reserves and Settlements
The share of the U.S. dollar in international reserves has dropped below 60% amid increasing use of alternative currencies in international settlements, the Spokeswoman of Russia’s Ministry of Foreign Affairs, Maria Zakharova, pointed out on Wednesday, quoted by the official Russian Tass news agency.
The Russian diplomat remarked that this indicator for the status of the greenback was at 72% in 2002. “The euro has now fallen to 19%, from 28% in 2008. By the way, the yuan has risen to 3%, a threefold growth since 2016,” Zakharova added. The report did not mention the source of the data she q
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