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Shanghai Cooperation devises plan for switching to domestic currency settlements

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Deputy Secretary General of the Shanghai Cooperation Organization Grigory Logvinov said that within the framework of this organization, work is underway to develop a roadmap for the transition to settlements in national currencies.

“A roadmap is being developed for the transition to settlements in national currencies. The work is carried out seriously and in detail. This process is far from simple, because the dollar, as the world’s reserve currency, is deeply rooted, including in national currency systems,” he added in a television interview.

According to him, to completely abandon the dollar, there is a long way to go and a lot of work to be done.

“Regarding the introduction of a certain single currency of the Shanghai Cooperation Organization, we can say that this issue has not yet been raised in this way, and such a goal has not yet been set. As for the future, we will see what happens later,” Logvinov said.

Source: News

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