Brics Russia Central Bank Ditches Us Dollar For Chinese Yuan

Last updated: June 9, 2025, 12:54

Brics Russia Central Bank Ditches Us Dollar For Chinese Yuan

The BRICS Cross

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

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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

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BRICS

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

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

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BRICS: Russia Central Bank Ditches US Dollar For Chinese Yuan

On Russia

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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