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Timur Suleimenov: Issue on establishment of a single currency zone in the CIS should be approached cautiously

15 November 2012 11:50 (UTC +04:00)

Baku. Vahab Rzayev – APA-Economics. The issue on establishment of a single currency zone and the single currency in the CIS should be approached cautiously. Its implementation will primarily depend on demand, Minister of Economic and Financial Policies of the Eurasian Economic Commission Timur Suleimenov said at the V International Banking Conference of CIS, APA reports.

At the same time, he said that this issue has some perspectives, which can be realized within the framework of the Customs Union and EurAsEC: ‘Because mutual payments will be carried out in larger quantities and more often’.

Board Chairman of IBA Jahangir Hajiyev said that joining to a single currency area will depend on the demand and opportunities in bilateral settlements. He added that, to some extent, the IBA-Moscow is already engaged in this kind of bilateral settlements.