Yuan displacing dollar on Moscow Exchange ...News

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Yuan displacing dollar on Moscow Exchange
The Chinese currency now has the largest share by volume in forex trading The share of the Chinese yuan on the Moscow Exchange (MOEX) hit an all-time high in March, the Bank of Russia (CBR) reported in a monthly financial market overview published on Monday. The yuan accounted for 39% of the total volume of trading in major currencies, up from 37% in February, according to the CBR. Meanwhile, the dollar’s share dropped to 34%, from 36% in the prior month. To compare, the greenback’s share a year ago was 87.6%, while the yuan’s was just 0.32%. “Market participants continued to reduce the volume of transactions in ‘

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