21
June
Russia Backs Stronger Rivals to Dollar
21 June 2010 Wall Street Journal
Russian President Dmitry Medvedev on Friday said he hosted talks with Chinese leaders about turning the yuan into a convertible reserve currency, part of a broader goal to move international reserves assets into emerging-markets currencies and away from the dollar.
Mr. Medvedev, speaking with Wall Street chiefs at an economic forum here, also outlined steps to boost foreign investment, including a cut in the capital-gains tax and overdue financial reforms, but investors said numerous barriers still obstruct Russian investment.
http://online.wsj.com/article/SB10001424052748704122904575314990374196912.html
