Trading between China’s yuan and Russia’s ruble on the Moscow Exchange reached a record high of 39 percent in March, up from 37 percent in February, the Russian central bank has said.
Meanwhile, U.S. dollar-ruble trading contracted to its “multi-year minimum” of 34 percent in March from 36 percent in February, the bank said in a statement on Monday.
Russian individuals spent 41.9 billion rubles (5.1 billion U.S. dollars) on purchasing the yuan in March, surging from 11.6 billion rubles (1.4 billion dollars) in the previous month.