Moscow's attempt to transfer international settlements from the dollar to national currencies ran into problems with low liquidity and convertibility

[Litwin]

Moscow's attempt to transfer international settlements from the dollar to national currencies ran into problems with low liquidity and convertibility of such currencies. The lower the liquidity and the higher the "exoticism" of the currency, the higher the costs, up to 30% of the transaction amount. It is possible to convert, but long and expensive. At the same time, almost half of all international settlements (46%) are still made in the dollar, and its share in the reserves of countries is kept at the level of 60%.