Governments of Russia, Kazakhstan and Kyrgyzstan are discussing the transition to national currencies

13 March 2020


The governments of Russia, Kazakhstan and Kyrgyzstan are discussing the possibility of switching to payments in national currencies due to a sharp jump in the dollar exchange rate, the head of the Kyrgyz Cabinet of Ministers Mukhammedkaly Abylgaziev said during a meeting on the stabilization of the soma rate.


"Together with the governments of the Republic of Kazakhstan and the Russian Federation, we consider issues of contractual obligations of entrepreneurs of the parties to work in national currencies", RIA Novosti quoted a Kyrgyz official as saying.


On March 6, the OPEC + countries could not agree to change the parameters of the deal to reduce oil production. As a result, restrictions on oil production will be lifted from April 1.


At the beginning of the week, the quotes lost about 20-25%, while the decline continues for the third week in a row. This, among other things, caused the falling of the ruble against the dollar and euro. This week, the Russian currency to the American went down by 8.3%, to the European-by almost 9%.

 

GSV "Russia - Islamic World"

Photo: Steve Buissinne / Pixabay