EDB pushes for national currency transactions in Eurasia

MOSCOW. KAZINFORM The Eurasian Development Bank suggests additional measures to further promote transactions in national currencies in Eurasian space. As one of the measures the creation of a financial messaging system in the Eurasian Economic Union was mentioned by the bank's Chairman of the Board Andrei Belyaninov, who took part in an international conference on Eurasian economic integration in Moscow, BelTA has learned.
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A system to transmit financial messages can be created in Eurasia using the Eurasian Development Bank as a so-called regulatory sandbox, the executive said. The system is expected to bolster the role of national currencies in transboundary transactions and reduce the usage of U.S. dollars by the Eurasian Economic Union member states. Andrei Belyaninov mentioned the Eurasian Development Bank's intention to advance cooperation with the Development Bank of the Republic of Belarus and similar financial institutions of other EAEU member states. 

The use of national currencies in the Eurasian Economic Union was high on the agenda of the conference. The use of the national currencies in export and import operations in the Eurasian Economic Union and in Greater Eurasia was discussed.

 

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