Russia will buy $70 billion worth of yuan and spend it on import substitution - Bloomberg
By the end of the year, Russia plans to buy $70 billion worth of yuan and other currencies of "friendly" countries in order to weaken the excessively strengthened ruble, learned Bloomberg . In the future, these funds, as well as existing reserves in yuan, are supposed to be spent on investments in the economy. According to the agency, the plan was tentatively supported at a strategic meeting with Central Bank Chairman Elvira Nabiullina on August 30.