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Russia, China agree to start ruble-yuan swap deals

October 13, 2014, 10:45 UTC+3 SOCHI
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SOCHI, October 13. /TASS/. Russia and China have reached an agreement to launch swap deals in the ruble-yuan currency pair, Deputy Chairman of Vnesheconombank (VEB) Alexander Ivanov said October 11 at an economic forum.

“I was glad to hear from a representative of the People’s Bank of China that we have reached relevant agreements on ruble-yuan swap deals. We are looking forward to sign corresponding agreements during an upcoming meeting of the governments’ heads,” Ivanov said.

Ivanov also said that VEB will sign a $2 billon deal with China’s Eximbank. “All these resources, all these investments will be directed to joint projects on the Russian territory, on supplies of advanced technologies and high-tech equipment, on creation of workplaces and industrial facilities," Ivanov noted.

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