Trading in yuan on Moscow Exchange skyrockets since early 2022

TASS Russian News Agency | Sep 23, 2022 at 4:13 PM

KAZAN, September 23. /TASS/. The scale of spot trading (with immediate settlement) in the yuan-ruble pair (CNY/RUB) soared 44-fold since the beginning of 2022 to 1.555 trillion rubles ($27 bln), according to files presented by Chairman of Moscow Exchange (MOEX) Sergey Shvetsov at a forum on Friday.

In January 2022, the amount of such transactions equaled 35.2 bln rubles ($615 mln). Trading in the Kazakh tenge to the ruble (KZT/RUB) climbed 41-fold. That said, the turnover of such transactions is number times lower than those in yuan, standing at 6.926 bln rubles ($119 mln). Trading in the Turkish lira-ruble pair (TRY/RUB) rose 16-fold to 4.38 bln rubles ($76 mln), while trading in the Belarusian ruble to the Russian ruble pair (BYN/RUB) skyrocketed 131-fold to 2.362 bln rubles ($41 mln).

Earlier, the Moscow Exchange announced the launch of trading in new currency pairs to the ruble, including the Armenian ram, the Uzbek sum and the UAE dirham.