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Chinese Yuan becomes Russia's main foreign currency, replacing Dollar and Euro

УНН Economy ✎ The russian central bank has announced that the Chinese yuan will become the main foreign currency in russia, replacing the dollar and the euro, amid …

According to the central bank, the yuan has been the main currency traded on the russian stock exchange for two years now, and has reached a share of 54%. The report says that the yuan-ruble exchange rate will set the trajectory for all other currency pairs, including the euro and the dollar, and will become a benchmark for market participants. The yuan surpassed the dollar for the first time in terms of monthly trading volume in February, and the difference became more pronounced in March.

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