Yuan share soars in Russian foreign trade – Central Bank ...News

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Yuan share soars in Russian foreign trade – Central Bank
source : Russia Today ( News ) () 66
The dollar and euro now make up less than half of Moscow’s export settlements, the regulator says The Chinese yuan has become a major player in Russia’s foreign trade, according to data released by the Bank of Russia in its Financial Market Risk Report on Thursday. The Chinese currency’s share in Russia’s import settlements had jumped to 23% by the end of last year from only 4% in January 2022. The yuan’s share in export settlements also surged from 0.5% to 16%. Meanwhile, the share of the US dollar and euro in Russia’s foreign trade has dropped substantially. At the start of 2022, 87% of export settlements were c

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