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Devaluation of national currencies still possible in countries neighbouring Russia — bank

September 04, 2015, 7:49 UTC+3 VLADIVOSTOK
Bloomberg experts believe the decision of the Chinese Central Bank to devalue the yuan started a chain reaction
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© ITAR-TASS/Stanislav Krasilnikov

VLADIVOSTOK, September 4. /TASS/. VEB Chairman Vladimir Dmitriev does not rule out devaluation of national currencies in several countries due to the global processes in the world economy, he said Friday in an interview with Rossiya 24 channel.

"Everything depends on the current state of the economy. It would be wrong and uncomfortable for me to name specific countries, which then through the appropriate channels will ask me questions," he said. "The situation is tense, of course. We live in a global world, and the countries are seriously dependent on each other. Economies are interconnected. Everything will depend on the global behavior on international markets, but nothing can be ruled out," he added.

Earlier, Bloomberg published materials saying the currencies of a number of countries neighboring with Russia are at risk of devaluation due to weakening yuan. The agency’s experts believe that the decision of the Chinese Central Bank to devalue the yuan started a chain reaction. In particular, the devaluation of the Kazakhstani tenge can affect the Armenian dram. Over the last year the Armenian currency has lost 15%.

Further weakening of the ruble can create additional problems for these countries due to their of their closer trade cooperation with Russia.

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