On Friday, President, Dmitry Medvedev had a discussion with the Chinese leaders in regard to making Yuan an exchangeable reserve currency. This move comes in the wake of the country's efforts to shift global reserves assets into the currencies of budding markets.

Mr. Medvedev addressed the Wall Street officials in an economic forum in America. In the forum he highlighted the country's motive of increasing overseas investment in Russia. He announced a reduction in the capital-gains tax and also suggested other financial changes. However, investors are of the view that many challenges still lie ahead.

The Premier said that he had earlier talked about the plans for increasing the international status of the Chinese currency at the Shanghai Cooperation Union.

On Friday, he said that the probable new reserve currencies are the Indian Rupee and the Russian Ruble. Mr. Medvedev revealed that in the coming times the country will come to know whether the forecast was right or not. He also said that he thought that in future the world financial system will have different currencies.

He further added that a few years ago, this idea seemed like a distant dream, but now the country is keen on holding serious talks with other countries, so the dream of multi-currency portfolio, is realized.