Bishkek, May 27, 2022 / Kabar /. A very important aspect of the financial stability of the member states of the Eurasian Economic Union is the transition to more predictable and stable algorithms and forms of payment in national currencies, President of Kyrgyzstan Sadyr Zhaparov said during a meeting of the Supreme Eurasian Economic Council.
He said that this is especially important in the current realities of the deteriorating geopolitical situation.
"In this regard, the use of national currencies in mutual payments for goods as one of the factors to reduce the pressure of imported inflation on the national economy, leveling the risks associated with the volatility of foreign exchange rates," he said.
Earlier, Iya Malkina, official representative of the Eurasian Economic Commission (EEC) told reporters in Bishkek that payments in national currencies are gradually increasing in internal mutual payments in the EAEU countries.
According to her data, if in 2013 the percentage of payments was 63%, then, according to the latest data, already 75% of trade is carried out in national currencies.
“The share of the dollar has decreased from 30% in 2013 to 19% in 2021. Taking into account the changes that are taking place in the market, there is a high probability that payments in national currencies will increase. According to the commission's experts, we can expect a share of up to 85%,” she added.
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