There is no shortage of yuan on the Russian market – Kommersant
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Head of the Central Bank Elvira Nabiullina during press conferences announced that there is no shortage of yuan on the Russian market. However, there are periods of volatility, as was the case with the euro and dollar.
Ms. Nabiullina noted that volatility is due to the demand for RMB liquidity. The last time this happened was on the eve of the New Year in China. However, the Central Bank has all the necessary tools to deal with such situations.
During the same press conference, the head of the Central Bank statedthat in 2023 the economy was growing beyond its potential, the regulator responded to this by increasing the key rate. She also admitted possibility of reducing the key rate in the second half of 2024. January 30 in an interview “RIA News» Ms. Nabiullina reported an increase in the share of the yuan in payments for exports. Over the past two years, it has grown 86 times – to 34.5%.
About the rapid growth of deposits in yuan among Russians – in the publication “Kommersant” “Deposits have their own yuan“
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