BAKU, Azerbaijan, June 4
By Ilkin Seyfaddini - Trend:
Eximbank of Russia (aka Roseximbank, a member of the Russian Export Center group) opened its first correspondent account in Uzbek soums for Russian banks, Trend reports citing the Bank.
At the same time, Roseximbank opened several correspondent accounts in Russian rubles for Uzbek banks.
This instrument should expand the Uzbek side's ability to obtain financing in Russian rubles. The demand for ruble-denominated financing from Uzbekistan is growing strongly, the report said.
The Russian Export Center Group is constantly and consistently expanding the network of correspondent accounts in national currencies of the main trading partners of Russia, as well as the network of ruble correspondent accounts on the balance sheet of Roseximbank for non-resident banks and settlement accounts for non-resident companies.
Roseximbank already performs operations of Russian companies in Chinese yuan, Kazakh tenge, Indian rupee, Kyrgyz som, Hungarian forint and constantly expands this list.
According to the Russian Export Center, in 2019, exports from Russia to Uzbekistan in 2019 amounted to $3.9 billion, with non-resource non-energy exports accounting for about 93 percent. The growth rate of non-resource exports was 25 percent last year.
In 2019, the main items of the exports from Russia to Uzbekistan were passenger cars, unalloyed sheet metal products, mineral processing equipment, sunflower oil, railway wagons and railway products made of ferrous metals demonstrated, the bank said.
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