Vedomosti: Ministry of Finance discusses with China the placement of Russian bonds in yuan

The Ministry of Finance is considering the possibility of entering the market with bonds in yuan, reports Vedomosti with reference to sources. According to one of them, negotiations are already underway with China. The interlocutor of the publication specified that the preparation of the bond issue will take “quite a long time”, and placement is possible within a year or two.

The newspaper cites two sources close to the government. One of them said that the issue of bonds in yuan would have to be carried out within the framework of Russian law and infrastructure. According to Vedomosti’s interlocutor, it would be expedient to involve Chinese continental investors in the issue.

The representative of the Ministry of Finance did not comment on the information about the alleged plans of the department.

August 18 yuan overtook dollar in terms of trading volume on the Moscow Exchange. Vedomosti wrote that the ministry could resume buying foreign currency in September. This will happen if the authorities approve the parameters of the new budget rule in early autumn. It is assumed that foreign exchange intervention will weaken the ruble exchange rate, which will make the export of goods and energy resources more profitable. According to media reports, instead of dollars, the Ministry of Finance was going to buy only yuan.

Details – in the material “Kommersant FM” “Interventions are expected to resume”.

Laura Keffer