The trading range of the yuan this week will be 12.25 – 12.50 rubles. This is the estimate in discussion with RIAMO given CFA, Director of the Financial Markets Operations Department of the Russian Standard Bank Maxim Tymoshenko. According to him, the general perception of the Chinese economy is improving, which makes it possible to predict that the Chinese currency will gain greater stability.
“At the same time, in the coming days, the Chinese yuan will continue to be pressured due to the ongoing economic risks and still uncertain indicators in many important sectors,” Tymoshenko continued.
He added that according to statistics, trade between Russia and China increased by 27.7 percent and domestic supply to China increased to 106.5 billion dollars.
Nikolay Kuznetsov, Associate Professor, State Business University, Institute of Economics and Finance, Department of Finance and Credit registeredIt seems that the volume of loans in yuan at Russia’s largest banks has increased significantly since the beginning of the year. The analyst believes that companies engaged in foreign economic activities need foreign currency loans for agreements with foreign partners.
Previously to China offered Increase the GDP gap.