Moscow Stock Exchange: Yuan-Ruble Trading Volume Will Surpass Dollar-Ruble Next Year

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MOSCOW (Reuters) – The Moscow Stock Exchange, Russia’s largest stock exchange, said on Wednesday yuan-ruble trading volumes would exceed dollar-ruble trading volumes next year as cooperation on Moscow’s financial markets with Beijing intensifies.

Turnover from yuan-ruble transactions was 61 times higher in August than in December 2021, the Moscow Stock Exchange said in a presentation, with August volumes exceeding 6.9 billion rubles ($118 million). dollars).

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As Western nations shunned Russia, it emphasized cooperation with China. The two nations have intensified their trade exchanges and Russian companies have started to issue yuan debt securities. ($1 = 58.3000 rubles) (Reporting by Elena Fabrichnaya; Writing by Alexander Marrow; Editing by Kevin Liffey)