20 December 201009:17
SKB-Bank: renminbi/ruble trading opens new prospects
The Chinese currency can now be traded at Russian stock exchanges; the exchange rate was set at 4.634 RUR: 1 RNB at the close of business on the first day. The trading process lasted for about one hour and resulted in twenty-nine deals worth 22.78m RUR altogether. The Central Bank’s representatives confess these figures exceeded their boldest hopes and signified that the banks’ customers are growing increasingly interested in China’s currency. ‘We used to use the U.S. dollars for Russian-Chinese contract settlements before, which meant the cost of converting rubles and RNBs into dollars added