Sergey Ivanov: Russia is ready to open new page in relations with U.S. after electionsRussian Politics & Diplomacy October 24, 4:10
Qatari former Emir Sheikh Khalifa bin Hamad Al Thani dies aged 84World October 23, 23:08
Russia’s health ministry plans to build vaccines plant in EcuadorBusiness & Economy October 23, 20:19
Cygnus cargo spacecraft docks to ISSScience & Space October 23, 19:44
Whereabouts of several residents of blast-destroyed house in Ryazan not yet establishedWorld October 23, 18:50
Zakharova: no cyberattack on Russian foreign ministry’s websiteRussian Politics & Diplomacy October 23, 18:29
Russian Minister of Energy: Russia, Saudi Arabia begin new stage of energy cooperationBusiness & Economy October 23, 17:32
Russia not ready to say whether it will cut oil production or freeze itBusiness & Economy October 23, 17:29
Experts probing into situation around cyberattack on Russian foreign ministry’s websiteRussian Politics & Diplomacy October 23, 17:05
MOSCOW, August 12. /TASS/. The devaluation of the Chinese yuan will contribute to the Russian currency’s appreciation in the medium term, Russia’s Central Bank said in a statement on Wednesday.
China’s central bank moved on Tuesday to devalue the yuan against the US dollar amid the slowing growth of the world’s second largest economy. The move was also aimed at boosting China’s flagging exports.
"In the medium-term perspective, the yuan devaluation can be expected to contribute to the growth of China’s exports and economic growth recovery. Finally, this will have a positive effect on the prices of global raw materials, including oil, which will facilitate the ruble’s strengthening," the Russian Central Bank said.
China’s yuan devaluation will have no direct material effect on the Russian financial market and the ruble dynamics, the Central Bank of Russia said.
"The volume of transactions with the yuan on the domestic foreign exchange market is extremely small compared with the volume of deals with the US dollar and the euro, for example," the Russian regulator said.