Fire in Russia’s Rostov-on-Don fully containedWorld August 21, 19:37
Russia wins two golds on second day of 2017 Universiade in TaipeiSport August 21, 19:29
Washington’s new strategy in Afghanistan aimed against China, expert saysWorld August 21, 18:43
Russia settles last part of Soviet debtBusiness & Economy August 21, 18:37
Man wearing suicide belt shot dead near BarcelonaWorld August 21, 18:29
Soviet-era ground effect vehiclesMilitary & Defense August 21, 18:28
Man tries to hock someone else’s yacht at Moscow pawn shop for $252,000Society & Culture August 21, 18:27
Scientists from Russia's Tatarstan to present artificial skin at Army-2017 showMilitary & Defense August 21, 18:09
Russian scientists pinpoint gene mutations linked to cardiovascular diseasesScience & Space August 21, 18:03
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.