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 ...
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