Russia targets CLS inclusion by 2015
Settlement risk in Russia's ruble is preventing the currency realising its global ambitions
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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