The ruble is becoming a reserve currency in Ukraine

Russian ruble in the next year will be the reserve currency for Ukraine. The journalists said the chairman of the National Bank of Belarus Sergei Arbuzov, according to "RBK-Ukraine"


According to him, it will happen immediately after the ruble will be transferred to the first category. As noted S.Arbuzov, this issue has already been agreed with the International Monetary Fund.

Reserve currency is widely recognized in the world of currency which central banks accumulate foreign exchange reserves. It serves as an investment asset is the way to determine the parity of the currency used if necessary as a means of currency interventions, as well as for the central banks of International Settlements.

Status as a reserve currency gives the country-currency issuer certain advantages: the ability to cover the deficit of the balance of payments of the national currency, to promote the strengthening of the position of national corporations to compete in the global market. At the same time, the nomination for the role of reserve currency confers on the country of the issuer’s obligations of currency stability, the removal of foreign exchange and trade restrictions, the adoption of measures to address balance of payments deficit.

The world’s reserve currencies are the U.S. dollar, euro, British pound, Japanese yen and Swiss franc. However, in recent years a number of countries are trying to make their currency reserve at least at the regional level. We are talking about the Chinese renminbi and the Gulf trying to create a common dinar.

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