A China-led regional organization that covers more than half of Eurasia intends to transition to settlements in the currencies of its members. While the plan is to abandon the U.S. dollar in mutual payments, participating nations are yet to consider a common currency.
Shanghai Cooperation Organization to Abandon Dollar in Favor of National Currencies
The Shanghai Cooperation Organization (SCO) is preparing to move away from the U.S. dollar and switch to settlements in the national currencies of its member states. In an interview with the Belarus 1 state TV channel, the bloc’s Deputy Secretary General Grigory Logvinov stated:
A roadmap for the transition to settlements in national currencies is being developed.
Also quoted by the Interfax news agency, the Russian diplomat emphasized that efforts in that direction are “serious and substantive.”
“The process is far from simple because, unfortunately, the dollar as a world reserve currency is too deeply embedded, including in natio
We współpracy z: https://news.bitcoin.com/worlds-largest-regional-organization-to-switch-to-settlements-in-national-currencies/
