Yuan share grows to 44 pct on Russian currency market, says central bank

Updated: August 9, 2023 Source: Xinhua News Agency
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MOSCOW, Aug. 9 (Xinhua) -- The yuan share moved up to a record 44 percent in July from 39.8 percent in June amid continued changes in Russia's exchange currency market, the country's central bank said on Tuesday.

As part of the fiscal rule from Aug. 1 this year to Jan. 31, 2024, the Central Bank of Russia will daily sell the yuan amounting to 2.3 bln rubles (23.8 million U.S. dollars) from the National Wealth Fund, the bank said on its website.

The share of "toxic" currencies on the exchange currency market declined from 58.8 percent in June to 54.4 percent in July. The share of the yuan in the OTC segment moved up from 18.4 percent in June to 19.2 percent in July, it said.

Editor: Yang Yifan