China approves usage of ruble instead of US dollar for border city

China approves usage of ruble instead of US dollar for border city

China’s central bank has put the Russian ruble into circulation in Suifenhe City, Heilongjiang Province, launching a pilot two-currency (ruble and yuan) program. The ruble is being introduced in the place of US dollar.

The announcement was made on Saturday by Jin Mei, deputy secretary for monetary policy at the opening ceremony of a trade exposition in Suifenhe, reported state-run Xinhua news agency.

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