Deposits have reached towards the yuan // Why the share of bank deposits in Chinese currency is growing

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The Russians preferred the yuan to the dollar. The volume of deposits in Chinese currency doubled over the past year, to 68.5 billion in dollar equivalent, while in dollar terms the volume amounted to 64.5 billion, the Central Bank said in a review of financial market risks. Thus, among foreign currencies, the yuan came out on top with a share of 5.5% of all deposits. The regulator explained this growth by servicing export operations for businesses, and for individuals by using the yuan as a store of value.

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