ASTANA, July 4. /TASS/. States of the Shanghai Cooperation Organization (SCO) are increasing the use of national currencies in mutual settlements - their share in Russia's trade transactions with members of the organization exceeded 92% in the first four months of 2024, Russian President Vladimir Putin said.

"Our countries are increasing the use of national currencies in mutual settlements. For example, their share in Russia's commercial transactions with members of the organization has already exceeded 92% in the first four months of this year," Putin said at a meeting of the Council of Heads of State - members of the association.

He recalled Russia's proposal to create its own payment and settlement mechanism within the SCO and noted that regular meetings of the economic bloc's ministers, meetings of the heads of finance ministries and central banks significantly contribute to the development of trade and investment relations within the SCO space.