Eximbank opened the first correspondent account in Uzbek currency for Russian banks, at the same time opening several accounts in rubles for Uzbekistan’s banks. The move is designed to expand the capabilities of exporters and importers of the Russian products. Eximbank already processes operations of Russian companies in Chinese yuan, Kazakhstan tenge, Indian rupee, Kyrgyz soum, and Hungarian forint. Eximbank is part of the Expo Center Group.
“The creation of infrastructure solutions to stimulate the use of national currencies in international payments will reduce the financial risks that exporters carry risks by synchronizing the flow of revenue and liabilities of enterprises in one monetary unit. As a result, we can expect a decrease in contract breach risks,” said Veronika Nikishina, REC Director General.
