Publish date8 Jul 2024 - 12:25
Story Code : 641938

SCO members note increasing share of national currencies

Russia’s Deputy Prime Minister says the recent Shanghai Cooperation Organization (SCO) meeting highlighting the risks of using US dollar stressing the necessity of increasing shar eof national currencies in mutual settlement.
SCO members note increasing share of national currencies
Alexy Overchuk said, "Nearly all of the speakers noted the necessity of increasing the share of national currencies in mutual settlements."

"Everyone understands that the use of the dollar is risky from the point of view of international settlements," he told Russia’s Channel One TV, commenting on the recent SCO summit in Astana.

The SCO 2024 summit was held in the Kazakh capital city on July 4 with the 10 member countries in attendance.

Once the members including Belarus, China, India, Iran, Kazakhstan, Kyrgyzstan, Pakistan, Russia, Tajikistan and Uzbekistan are convinced to ditch the US dollar, then they would use national currencies. Russia and China are already in the process of de-dollarization.
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