Yuan takes on the properties of the reserve currency, Putin said

© AFP 2018 / STRНациональная the currency of China — yuan. Archival OTOYuan takes on the properties of the reserve currency, Putin said© AFP 2018 / STR

Yuan takes on the properties of the reserve currency, and this can speed up the process, said Russian President Vladimir Putin at a press conference on the results of the BRICS summit in South Africa.

According to him, many people in the world talk about the need to create a new reserve currency, as the use of the US dollar in political debate causing him damage and undermining the trust as a reserve currency.

«If it wasn’t, there would be a desire is not in the same country, and dozens of countries, think about other options. What it can be, it is difficult to say. Yuan, of course, becomes. If it is freely convertible from an economic point of view, I think that this process will accelerate. But today it is included in the pool of the IMF, so it is nothing special, it is a natural process. Once again, the importance of one or the other currency depends on the importance of the economy, which depends on the currency,» Putin said.

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