Russia, China agree to start ruble-yuan swap deals

SOCHI, October 13. /TASS/. Russia and China have reached an agreement to launch swap deals in the ruble-yuan currency pair, Deputy Chairman of Vnesheconombank (VEB) Alexander Ivanov said October 11 at an economic forum. “I was glad to hear from a representative of the People’s Bank of China that we have reached relevant agreements on ruble-yuan swap deals. We are looking forward to sign corresponding agreements during an upcoming meeting of the governments’ heads,” Ivanov said. Ivanov also said that VEB will sign a U.S. $2 billon deal with China’s Eximbank. “All these resources, all these investments will be directed to joint projects on the Russian territory, on supplies of advanced technologies and high-tech equipment, on creation of workplaces and industrial facilities.” Read more on itar-tass.com