Brics Russia Central Bank Ditches Us Dollar For Chinese Yuan

Last updated: June 9, 2025, 07:51

Brics Russia Central Bank Ditches Us Dollar For Chinese Yuan

China and Russia have almost

China and Russia have almost completely phased out the dollar from their bilateral trade. More than 90% of trade between the two nations is done with either the yuan or

The BRICS Cross-Border Payment Initiative (BCBPI) will use national currencies, instead of the US dollar. Russia's finance ministry and central bank released a

While there are growing concerns among the Brics bloc of emerging economies over the scope of financial sanctions from the United States, few countries in the

BRICS

On Russia's foreign exchange markets, the ruble-yuan trade accounted for 39% of total volumes, outpacing the ruble-dollar's 34% share, the central bank added. The

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BRICS’ Russia is ditching the US Dollar in favor of the Chinese Yuan for trade, according to its central bank. The country has spearheaded de-dollarization efforts

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China and Russia have almost completely abandoned the US

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