Despite the leadership of the dollar in terms of volume, the yuan managed to become the third among the most sought-after currencies on the exchange.
Yuan is the most attractive alternative to the dollar for Russians. The head of the Center for Macroeconomic and Regional Analysis and Forecasting, Dmitry Tarasov, told Prime news agency.
Thus, at the end of July trading in the yuan on the Moscow Stock Exchange has reached a record level. On some days, their volume exceeded the index for the ruble/euro pair.
Thus, the daily trading volume on the yuan/ruble pair amounted to 70.51 billion rubles, while the euro/ruble pair amounted to 58.66 billion rubles on July 27.
According to Dmitry Tarasov, the US currency remains the leader in the volume of trading, while the yuan is the third most popular currency on the stock exchange. The expert believes that the popularity of the Chinese currency is due to the fact that transactions in the euro and the dollar are limited, as well as banks have introduced commissions for keeping accounts of currencies.
Previously, it was predicted that the yuan rate would not fluctuate much due to the situation in Taiwan. China's currency has been stable against the US since mid-May.