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Pakistan, China and Russia decide to conduct trade in local currencies skip dollars

Summary:
The eight-member countries of the Shanghai Cooperation Organization (SCO), including China, Russia, and Pakistan, have made the principle decision to conduct bilateral trade and investment and issue bonds in local and national currencies instead of US dollars. Business Recorder Pakistan, China and Russia decide to conduct trade in local currencies skip dollarss/

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Pakistan, China and Russia decide to conduct trade in local currencies skip dollars

The eight-member countries of the Shanghai Cooperation Organization (SCO), including China, Russia, and Pakistan, have made the principle decision to conduct bilateral trade and investment and issue bonds in local and national currencies instead of US dollars.

Business Recorder

Pakistan, China and Russia decide to conduct trade in local currencies skip dollarss/

Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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