Yuan bond yields rose to six percent per annum
The yield on bank deposits and debt securities in the past six months rose from 1 to 3 percent on deposits and up to 4-6 percent per annum for bonds. This is evidenced by the data of the Central Bank of Russia, reports the Kommersant.
The regulator noted an increasing trend in the share of the yuan in settlements for foreign economic transactions, in the domestic stock exchange and over-the-counter markets. From March of last year to March of this year, Russian exporters increased the volume of monthly transactions in this foreign currency from $0.5 billion to $6.9 billion, and importers - from $1.4 billion to $7.7 billion.
As stressed in the Central Bank, the share of the Chinese yuan in the structure of exports was 18 percent, and in the structure of imports - 27 percent.
On May 9 it was reported that from January to April 2023 trade turnover between Russia and China increased by more than 41 percent compared to the same period in 2022, resulting in more than $ 73 billion.
According to the Chinese side, Moscow sells large volumes of oil, gas, coal, food, metals, timber and chemical products to Beijing. China sells electronics, equipment and household appliances to Russia.