Yuan exceeds 46% in on-exchange FX market
7 December 2023
News
In November, the yuan’s share increased to 46.2% in trading volumes on the Moscow Exchange from 43.9% in the previous month. The proportion of ‘toxic’ currencies went down from 54.6% to 52.3%. In the over-the-counter market, the yuan and ‘toxic’ currencies accounted for 31.5% and 63.0%, respectively.
The ruble strengthened in November thanks to rising sales of foreign currency by exporters.
OFZ yields dropped, on average, by 87 basis points owing to changed expectations of market participants for the key rate path.
The Moscow Exchange Index edged down by 1.1% amid oil price adjustments, a stronger ruble, and discussions about new sanctions.
Further details are available in the new issue of the Financial Market Risks Review.
Preview photo: Ekkalak Ngamjarasvanij / Shutterstock / Fotodom