Trading of the yuan-rouble pair has surged as Russia struggles under the weight of Western sanctions. Photo: Reuters
Trading of the yuan-rouble pair has surged as Russia struggles under the weight of Western sanctions. Photo: Reuters
Yuan

China’s yuan becomes most traded foreign currency on Russian exchange amid efforts to ‘de-dollarise’ economy

  • A total of 64,900 yuan-rouble transactions were completed on Monday, with the volume of trading reaching 70.3 billion roubles (US$1.17 billion)
  • Russia has been forced to settle more transactions in yuan after being hit with Western financial sanctions for invading Ukraine

Trading of the yuan-rouble pair has surged as Russia struggles under the weight of Western sanctions. Photo: Reuters
Trading of the yuan-rouble pair has surged as Russia struggles under the weight of Western sanctions. Photo: Reuters
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