Hanse Mina on Nostr: Major Russian banks have called on the central bank to take action to counter a yuan ...

Major Russian banks have called on the central bank to take action to counter a yuan liquidity deficit, which has led to the rouble tumbling to its lowest level since April against the Chinese currency and driven yuan swap rates into triple digits.

The yuan has become the most traded foreign currency on #MOEX after Western sanctions halted exchange trade in dollars and euros, with many banks developing yuan-denominated products for their clients

https://www.reuters.com/markets/currencies/major-russian-lenders-say-yuan-coffers-empty-urge-central-bank-action-2024-09-05/

#Ukraine #Russia #China