ArmInfo.After the developments at the beginning of 2022 (the Russian-Ukrainian military conflict - ed. note), the turnover in national currencies in the correspondent banks of the Interstate Bank has increased significantly. Igor Chumakovskiy, Vice-President of the Interstate Bank, said this in response to a question from ArmInfo during a press conference on November 17 at the press center of the Sputnik agency. At the same time, he mentioned that the position of the Russian ruble in settlements is, of course, leading.
However, as Chumakovskiy emphasized, in order to increase the share of national currencies in the economic life of economic entities, it is necessary to develop both a system for stimulating these settlements, which is still a rather difficult task requiring decisions at the state level, and to form organized financial markets operating in national currencies.
In this regard, he emphasized that the changing external environment will push EAEU countries to settle in national currencies, and government actions will also be directed in this direction. "But it will be a long process. It is extremely difficult to abandon the dollar even in 10 years," the Vice-President of the Interstate Bank said.
Earlier, Assistant to the Chairman of the Board of the Eurasian Economic Commission (EEC) Iya Malkina said that in 2021 the share of payments in national currencies in mutual settlements of the EAEU countries amounted to 73.5%. According to expert estimates, this year it may reach 80%.
