View full page at forexfactory.com

 

Yuan's rise in Russia shows currency trend

From en.people.cn

The renminbi's record high share in Russia's currency trading in March confirms an emerging trend that more commodity-exporting economies are accepting the Chinese currency as an alternative to other leading international currencies, experts said on Tuesday. Their comments followed a report from the Bank of Russia, the country's central bank, on Monday that the share of the yuan/rouble pair trading on the Russian exchange market reached a new high of 39 percent in March. During the same period, the share of the US dollar/rouble pair fell to 34 percent, the lowest in recent years, Russia's central bank said. A recent ... (full story)

Story Stats

  • Posted:
  • Category: Fundamental Analysis