YEREVAN, August 14. /ARKA/. The current devaluation of the yuan will have adverse impacts on Russia's economy and, as consequence, also on Armenia's economy, Vardan Bostanjyan, an economist, said in an interview with Sputnik-Armenia portal.

China's central bank devalued the yuan by nearly 2 percent on Tuesday saying it was a one-time step. The yuan midpoint was set at 6.2298 per dollar, compared with the 6.1162 mid-point on Monday, with the central bank to now base the yuan's midpoint on market makers' quotes and the previous day's closing price.

Bostanjyan said cheaper Chinese goods will come to Russia's market aggravating domestic industries' troubles.

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Tags: Armenia, Russia, YUAN

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The tightly controlled Chinese yuan will eventually supersede the dollar as the top international reserve currency, according to a new poll of institutional investors, RBC reports citing the U.S. CNBC TV channel

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Tags: Chine, DOLLARS, YUAN

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HSBC Bank Armenia corporate customers can now effect cross-border trade settlements in Renminbi (Chinese Yuan)

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Tags: Armenia, HSBC, YUAN

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