Azerbaijan, Baku, Oct. 21 / Trend I. Khalilova /
The issue of calculations in national currencies in the CIS countries once again becomes relevant. It will be discussed at the third Baku International Conference of the CIS member-states 'Financial institutions - the basis of structural modernization of the CIS economy".
A few years ago calculations were made in national currencies in the CIS countries within five percent, the remaining transactions were in dollars and euros. But now the situation has changed, Anatoly Kazakov, Chairman of the Coordinating Board of the CIS Financial and Banking Council, said at a press conference.
"Today, more than 20 percent of the calculations is carried out in the national currency. The limit will be expanded. First of all, it will depend on the specific actions of our banks, the founders of Finance and Banking Council and the governments," Kazakov said.
The transition to a single currency and even introduction of the new currency "Eurasia" proposed by Nazarbayev were repeatedly discussed at the meetings of finance ministers of the CIS member-states.
"It is early to talk about introducing a single currency, Kazakov said. Today, the first phase is being implemented to promote national currencies by increasing their amount in the calculations. The dynamics is good enough.
He said that the memorandum signed between the International Bank of Azerbaijan and Coinstar Eurasia Limited within the conference to launch the project "cash-to-card" will also contribute to the expansion of calculations in the national currency.