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Russia Beyond The Headlines

Yuan demand rising in Russia – VTB Bank

February 16, 2016 Marina Karpova, RBTH
The Yuan is now the third most popular foreign currency for VTB clients.
The Yuan is now the third most popular foreign currency for VTB clients. Source: Reuters

The Chinese Yuan has become the most sought after currency among clients after the U.S. Dollar and the Euro, VTB Bank said on Feb. 15.

The volume of foreign exchange transactions with the Chinese currency exceeded 250 million rubles (about $3 million) between November 2015 and January 2016, the bank said.

VTB started Yuan trading operations in 12 Russian cities in November 2015.

Read more: Indonesia, Russia look to do away with the dollar

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