China, Russia Quit US Dollar
Submitted by manager on Wed, 2010-11-24 21:42
Chinese experts say the move reflects closer relations between Beijing and Moscow and is aimed at protecting their domestic economies
CHINADAILY Nov 24, 2010 | China and Russia have decided to renounce the US dollar and resort to using their own currencies for bilateral trade, Premier Wen Jiabao and his Russian counterpart Vladimir Putin announced late on Tuesday.
Chinese experts said the move reflected closer relations between Beijing and Moscow and is not aimed at challenging the dollar, but to protect their domestic economies.
"About trade settlement, we have decided to use our own currencies," Putin said at a…
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