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China's yuan becomes most traded foreign currency on Russian exchange

Russia United States China Temur Umarov Economy Hong Kong Moscow US Dollar

Trading of the yuan-rouble pair has surged as Russia struggles under the weight of Western sanctions. (Reuters photo)

HONG KONG: The yuan surpassed the US dollar for the first time this week to become the most traded foreign currency on the Moscow exchange as tensions with the West push the Russian economy closer to China.

A total of 64,900 yuan-rouble transactions were completed on Monday, with the volume of trading reaching 70.3 billion roubles (US$1.17 billion), data from the Moscow Exchange Group showed.

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