8 Sep 2022 10:07

Siluanov sees yuan's role in Russia's reserves growing

MOSCOW. Sept 8 (Interfax) - The role of the Chinese yuan in Russia's international reserves will continue to grow, Finance Minister Anton Siluanov said.

"A country's reserves are usually formed in the currencies [of those] with whom there is active trade. Yes, we are now seeing an increase in the volume of trade with our eastern neighbour. And, of course, the yuan's role in reserves will also grow," Siluanov said in an interview with Rossiya24 ahead of the Moscow Financial Forum.

"Therefore, in the current conditions, I think that if we create reserves and keep money in gold and foreign exchange reserves, then foremost, of course, it's gold, it's the yuan and also a number of other currencies of friendly countries," Siluanov said.