Japan suggests Russia use Yen instead of US Dollar in transactions
Posted by seumasach on September 5, 2015
It is ironic that as the dollar sores it is gradually being phased out as the world’s leading trading currency. The dollar is obviously being boosted by hot money flows and unravelling carry trades. This is a temporary state of affairs, the deeper underlining trend being towards the overthrow of the dollar as the world’s reserve currency.
Japan Suggests Russia Use Yen Instead of US Dollar in Transactions
4th September, 2015
VLADIVOSTOK, September 4 (Sputnik) – Tokyo has suggested to Moscow that Russia use the Japanese national currency, the yen, in its transactions instead of the US dollar in order to minimize risks, Tadashi Maeda, the Senior Managing Director of the Japan Bank for International Cooperation (JBIC), said Friday.