© Reuters. FILE PHOTO: Russian Rouble banknote is positioned on Chinese language Yuan banknotes on this illustration taken Might 30, 2022. REUTERS/Dado Ruvic/Illustration
(Reuters) – Russia is contemplating a plan to purchase as a lot as $70 billion in yuan and different “pleasant” currencies this 12 months to gradual the rouble’s surge, Bloomberg Information reported on Thursday.
“Within the new state of affairs, accumulating liquid international alternate reserves for future crises is extraordinarily tough and never expedient,” mentioned the textual content of a proposal ready for a gathering of Russian authorities and central financial institution officers, Bloomberg reported, citing individuals accustomed to the deliberations.
Russia’s central financial institution didn’t instantly reply to a Reuters request for remark.
