Russia targets CLS inclusion by 2015
As the Central Bank of Russia mulls CLS membership by 2015, industry players warn Russian ruble settlement risk will hinder the unit’s growth as a global currency.
Speaking at Icap’s international ruble settlement forum, which took place in London on Wednesday (April 14), Moscow-based Central Bank of Russia representative Vladimir Kulipanov set out a timeline for CLS membership. “We hope to sign up by the latest 2015, perhaps sooner. There is an internal work plan in progress,” he said.
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