The RMB has become the largest transaction volume of the Moscow Exchange

RMB China has become the largest trading foreign currency for two consecutive days on the Moscow Exchange in Russia.

According to the CCTV News on Wednesday (October 5), according to the Russian Business Consultation Website (RBC) quoted the Moscow Exchange data, Monday (3rd) the RMB transaction volume surpassed the US dollar for the first time on the Moscow Exchange.Become the largest transaction volume of the exchange.

Data show that on Monday, the Moscow Exchange completed a total of 64,900 T+1 yuan/ruble trading, with a transaction amount of 70.3 billion rubles (about S $ 1.695 million), and the same day USD/ruble transaction29,500, the transaction value is 68.2 billion rubles.

When the closing of Tuesday (4th), the popularity of RMB in the Moscow Exchange has not changed.On the same day, the Moscow Exchange sold 46,000 yuan/ruble transactions, with a transaction value of 63.9 billion rubles; USD/ruble transactions were 2,500, and the transaction value was 59.4 billion rubles.Only 47.3 billion rubles.

According to the Russian satellite news agency, Russian media watched the Chinese program report on Tuesday, and the RBC quoted the report of the International Fund Clearance System (SWIFT) reported that in August, Russia accounted for 4.3%of the total overseas RMB payment of China, second only to the second only to5.75%in the UK.

It is reported that Russia's share in offshore RMB payment has risen significantly over the past five months.Since May 2022, the share of RMB in Moscow's foreign exchange transaction volume has increased to 14 times that of the original, while foreign exchange trading volume in August reached 1.3 trillion rubles, equivalent to the scale of euro/ruble transactions.

Report quoting Sorwartkin, chief analyst of the Global Research Department of "Open Investment", said that in the context of sanctioning Russia in Europe and the United States, Russia's import business has grown, energy supply has shifted to other markets, as well as to avoid sanctions and cause sanctions to Russia.The company's foreign exchange account is frozen, and Russia is expected to increase its share in the total RMB payment.