The Chinese yuan is "the most popular" here
According to the website of the Russian weekly newspaper "Evidence and Facts" on September 9th, the Chinese yuan has become the main foreign currency in Russia. The proportion of domestic currency settlement with China is rapidly increasing, and the trading volume of the renminbi on the Moscow exchange has exceeded that of the US dollar. Major banks are actively recommending renminbi savings to the public.
According to reports, Yelena Melnikova, an official from the Russian Ministry of Economic Development, stated that in the past year, the proportion of Chinese and Russian settlements in Chinese yuan and ruble has doubled. "At the same time, Russia not only uses the Chinese yuan for settlement with China, but also with other countries. The amount of RMB settlement has increased fivefold," she said at the expert club meeting of "Evidence and Facts Weekly · Media"
Melnikova stated that the renminbi is playing an increasingly important role in Russia's foreign trade. She said, "The internationalization of the RMB is unstoppable, and we are witnessing this situation in real time." The proportion of RMB settlement between China and Russia will increase in the coming years.
According to reports, after Russia's US dollar and euro foreign exchange reserves were frozen by the West, the Russian Ministry of Finance has decided to increase the proportion of the Chinese yuan in the country's "savings tank". At present, Russia only reserves gold and yuan, and banks also advise the public to do so. Anatoly Aksakov, Chairman of the Financial Market Committee of the Russian State Duma, pointed out that all of this money can be used because the trade volume between China and Russia is steadily increasing.
Reported that the Russian Ministry of Finance allowed the sale of treasury bond denominated in RMB to Russian citizens. Therefore, it is necessary to build a financial bridge between Russia and China, through which Russian and Chinese investors will purchase each other's securities.
According to a report by the Russian Business Consulting Network on September 10th, a recent survey conducted by the Savings Bank of Russia showed that among friendly country currencies, the most popular among Russians is the Chinese yuan.
At the end of August, the Russian Savings Bank selected representative samples from 37 cities with a population of over 500000 for investigation, with a total of 11000 people participating.
According to reports, by the end of August, the homepage of the Russian central bank website had placed the RMB to ruble exchange rate at the top of its daily foreign exchange rate table. In the past, this position was occupied by the US dollar. Nowadays, the US dollar ranks second and the euro ranks third.
According to reports, Ruslan Vesterovsky, Senior Vice President of Savings Bank of Russia, stated that the demand for Russians to invest in the renminbi is growing rapidly, indicating that Russia is in a global trend.
This expert said that at the same time, Russians also have a strong interest in other financial instruments that can make money with the Chinese yuan. For example, they open RMB savings accounts and directly or through exchanges purchase RMB denominated bonds of Russian companies.
According to reports, the proportion of friendly country currencies continues to increase in foreign exchange exchanges, with the Chinese yuan taking the lead. According to data from the Russian central bank, the trading volume of the renminbi reached a new high in August, accounting for 44.7%.
