For many companies, ruble loans have become more expensive due to the increase in the key rate.
Loans in yuan are becoming more and more popular among Russian businesses. According to Nikolay Kuznetsov, associate professor of the Finance and Credit Department of the Institute of Economics and Finance of the State University of Management, this is a consequence of the rise in the price of ruble loans, Prime News Agency reported.
Therefore, Russian businesses are now more likely to apply for foreign currency loans. Since it is easier for Russian banks to make transfers in yuan, and trade turnover with China is growing, businesses are choosing loans in this currency.
However, the yuan is not so popular among ordinary Russians yet. As the expert noted, this currency is used to store savings, but loans in this currency are not issued.
Recall, analysts believe that in the near future, the ruble exchange rate will strengthen and will be set at 85-95 per dollar.