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Altyn and Evraz may replace Russian Ruble

It can become a single currency of Eurasian Economic Union.

13.Mar.15 6:16 PM
By Abigail Richards


Altyn and Evraz may replace Russian Ruble
New currency may appear in 2016. It may become a single currency within Eurasian Economic Union. Specialists and experts of the Central Bank were ordered to find out if creation of such currency will be helpful for the country. Such order was given to the Head of Central bank by the President of Russian Federation Vladimir Putin.
Experts are no very inspired by this idea and ask not to hurry with this process.

Nevertheless, major part of economists is sure that single currency will strengthen Eurasian Economic Union and increase economic attraction.

All sides of the Union met in Kazakhstan in order to discuss plans for future development. All of them agreed that it is necessary to create Eurasian Bank by 2025. This is will be a perfect period to introduce single currency which will be used in Russia, Belorussia and Kazakhstan. However Vladimir Putin insisted that this process should be completed even earlier.

Director of Alpari analytic department shared his opinion that such desire of Russian President is connected with economic situation in the country.

Mass media offer lots of variants how new currency will be called. Some sources say that altyn may soon appear on currency stock exchanges as well as evraz. Such name was offered by President of Kazakhstan.

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