Yuan’s share in the calculation of exports from Russia increased 32 times during the year from 0.5% to 16%. interfaxIt refers to the Financial Markets Risk Review published by Bank of Russia.
From the analysis it follows that the share of “toxic currencies” in the monetary structure of settlements in foreign economic activity has significantly decreased.
“In addition to the Russian ruble, the alternative currency for settlements is the yuan, while other currencies of friendly countries are extremely rarely used,” the message says.
Thus, at the beginning of 2022, export deals were predominantly made in dollars and euros, while the share of currencies of countries that were later considered hostile was 87%, while the share of the yuan did not exceed 0.5% and the share of the ruble did not exceed 0.5%. – %12.
At the end of the year, the share of “toxic” currencies rose to 48 percent, the share of the ruble to 34 percent, the share of the yuan to 16 percent, and the share of other friendly currencies to 2 percent.
Earlier, Kommersant newspaper wrote that in February 2023, with the “tomorrow” consensus, the Chinese yuan surpassed the US dollar in Russian trade and became the most traded currency in Russia.