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ICYMI - China's use of yuan to buy Russian commodities surges

Via Reuters, citing "multiple trading executives with direct knowledge of the matter"China has dramatically increased use of the yuan to buy Russian commodities over the past year, with nearly all of its purchases of oil, coal and some metals from its neighbour now settled in the Chinese currency instead of dollarsThe latest hard data is from March:yuan (AKA renminbi) became the most widely-used currency for cross-border transactions in China, overtaking the dollar for the first timeits share as... Read More

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Posted: May 11 2023, 22:22

Author Name: forexlive

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