On May 5, the volume of trade in yuan with “tomorrow” settlements on the Moscow Stock Exchange amounted to a record 169.1 billion rubles. This is evidenced by data from the Moscow Stock Exchange.
Since 2022, Chinese currency has been increasingly in demand on the Moscow Stock Exchange. The trading volume of the yuan/ruble pair (CNY/RUB) for delivery “tomorrow” on July 21, 2022 was around 56 billion euros and has tripled since then.
In this same month of July 2022, the Chinese currency overtook the European currency and came for the first time to second place after the dollar in terms of trading volume with “tomorrow” delivery on the spot market of the Stock Exchange. Moscow. At the end of February 2023, the yuan became the most popular currency in the exchanges in view of “tomorrow”, overtaking the dollar.
Earlier, President Vladimir Putin said that Russia supports yuan settlements when trading with other countries.
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