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Yuan share growing to 44% on Russian currency market — Central Bank

The Bank of Russia will daily sell the yuan amounting to $23.8 mln from the National Wealth Fund over the period from August 1, 2023 to January 31, 2024

MOSCOW, August 8. /TASS/. The structure of the exchange currency market continued changing in Russia and the yuan share moved up to record high 44% in July from 39.8% in June, the Central Bank said in the financial market risk review posted on its website.

Further to regular sale and purchase transactions with the foreign exchange as part of the fiscal rule from August 1, 2023 to January 31, 2024, the Bank of Russia will daily sell the yuan amounting to 2.3 bln rubles ($23.8 mln) from the National Wealth Fund (NWF).

The share of "toxic" currencies on the exchange currency market declined from 58.8% in June to 54.4% in July. The share of the yuan in the OTC segment moved up from 18.4% in June to 19.2% in July.

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Central Bank of Russia

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