The share of the Chinese yuan in Russia’s foreign exchange transactions was at a record high in March –

/ world today news/ A report by the Central Bank of Russia on the review of financial risks shows that in March the share of transactions in Chinese yuan and rubles in the domestic foreign exchange market reached a record high of 39%, and those involving US dollars and rubles has fallen to its lowest level in recent years of 34%.

The Central Bank of Russia has joined China’s CIPS cross-border payment system, as a result of which the time for its business operations with China will be shortened significantly, the speed of settlement will be accelerated, and the quality of customer services will be improved.