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image  1 Business Insider - Russia's central bank is looking to add China's yuan, India's rupee, and Turkey's
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August 13, 2022

Russia's central bank is looking to add China's yuan, India's rupee, and Turkey's lira to its wealth fund, as Western sanctions keep the Kremlin's dollars and euros frozen.The diversification away from Western currencies could come via a budget mechanism that leverages excess income from energy revenue. Russia's wealth fund held just under $200 billion in July.China's push to make the yuan a more dominant player on the world stage — to supplant the dollar, specifically — has accelerated in recent years. Still, economists have pointed out that the moves are primarily symbolic.Read the full story at the link in our bio.Story by Phil Rosen.(Credit: Oleg Elkov/Getty Images)
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