Russia to introduce international bonds in 2020 in a currency other than US Dollar


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Russia to introduce international bonds in 2020 in a currency other than US Dollar

Confirming financial market whispers which were winding in the air over the recent past that a number of European and Asian major economies were mulling an option to ditch out the US Dollar for their international bonds, Russian Finance Minister, Anton Silwanov said on Tuesday, the 24th December 2019, that, Kremlin had been contemplating an option to issue an international bond by 2020 which would be denominated in a currency other than the US Dollar, echoing leads of a slew of European major economies which had also been drawing out plans to ditch out the US dollar in a bid to curb trading in the American currency, accountable for roughly 63 per cent of the global markets’ entire transactions, which in effect would downsize the US influence in global economy and limit losses in a roughly $10 trillion global equity market which had wobbled throughout this year over comments from leading US officials.

Meanwhile, as Kremlin had achieved a fair bit of success out of its dollar-denominated bonds this year, adding that Russia’s $1,657 trillion economy, the world’s 11th-largest by nominal GDP, should reconsider its foreign inflows in some other currencies than the US Dollar following a recent round of US sanction, Russ Finance Minister, Silvanov said to the reporters on Tuesday, the 24th of December 2019, “Russia sees the possibility of borrowing from foreign markets in 2020 in a different currency from the dollar. ”