In November, the exchange rate of the Chinese Yuan (NDT) against the USD tended to recover strongly. This is expected to have a positive impact on the Chinese economy and restore market confidence.
China's four largest banks have provided billions of dollars to Russian banks as the West withdrew from the country in the first year of the conflict in Ukraine.
Zhou Liqun, president of the China Business Association in Russia, said the ratio of local currency payments between Russia and China would increase, which would serve the interests of both countries.
Economists call the USD the global reserve currency - a title that confers some pretty important perks on the US economy. But can the USD be knocked out of the top spot?