On Russian-Vietnamese consultations to conduct settlements in national currencies

On 30 June — 2 July 2015, the Bank of Russia and the State Bank of Vietnam conducted consultations on organising mutual settlements in national currencies. The consultations were also attended by the representatives of concerned Russian and Vietnamese commercial banks and the Moscow Exchange.

Attendees discussed legal framework and banking infrastructure readiness for such settlements, outlined several measures to reduce costs for banks and their customers, and to support liquidity in the Russian ruble and Vietnamese dong. The participants considered preliminary plans to launch trades in the ruble-dong currency pair at the Moscow Exchange.

The progress of further efforts in this field will be discussed in a broader setting during the joint meeting of the Russian-Vietnamese working group on interbank collaboration scheduled for early September 2015.

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