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Development Fund»
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Eximbank of Russia Continues Expanding the Geography of the Correspondent Network in Local Currencies

Eximbank of Russia continues expanding the geography of the correspondent network in local currencies. As part of implementation of the Development of Accounts in Local Currencies program, in late August 2018 Eximbank of Russia opened a nostro correspondent account in a new currency, Kyrgyzstani som, with JSC Aiyl Bank, Bishkek, Kyrgyz Republic. In November 2018, the first transactions on the account were completed. The correspondent account was opened considering the needs of the Bank’s clients to collect currency proceeds and make payments in Kyrgyzstani som under the scope of joint projects implemented with Kyrgyz companies. Development of settlements in local currencies is an important line in the Eximbank of Russia’s business, which allows successful implementation activities to support Russian exports.