Posted on 06/14/2024 7:38:56 AM PDT by DocRock
(Kitco News) – The Central Bank of Russia (CBR) shocked international markets and their own financial institutions on Thursday when it announced that China’s yuan would replace the U.S. dollar as the benchmark for all currency trades in the country.
The announcement was one of several issued by the CBR during a frantic day of activity that saw the Moscow Exchange (MOEX) suspend trading in dollars and euros following a new series of U.S. sanctions in response to Russia's ongoing invasion of Ukraine.
(Excerpt) Read more at kitco.com ...
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