"RMB is expected in the Russian market"

The Russian "Viewpoint" website published an article entitled "When to replace the US dollar and the euro" entitled "when RMB in Russia", the author is Oliga Samomfolova. The article pointed out that the RMB has become the third largest active currency in the Moscow exchange trading volume second only to the US dollar and euro in a relatively not long period of time. In the Russian market, the basic framework of investing in RMB has just begun to establish, and investment opportunities will not be too much, but the process has been started. The full text is as follows:

After the West imposed sanctions on Russia, the US dollar and euro actually became "toxic currencies." However, soon the market appeared in the market with new financial products with another friendly currency -RMB pricing. Can the renminbi be a substitute for traditional Western currencies in savings, consumption, and investment?

New RMB products have begun to appear in the market, although it has not yet been popularized. On the Moscow Exchange, the transaction volume of the renminbi continued to rise, and the first batch of companies issued RMB bonds appeared.

For ordinary residents, large banks have begun to handle the RMB deposit business. For example, Alpha Bank has opened a RMB deposit business with an annual interest rate of 1.5%. Among Russian large banks, this is the highest interest rate for foreign currency deposits. In order to get such a high interest, the amount of deposit should not be less than 500 yuan, and the storage period is one year.

The head of Zenit Bank's analysis department Vladimir Yiffs Jayev said: "In the case of the current reserve currency deposit zero interest rate or even negative interest rate, the annual interest rate of RMB 1%to 2%is satisfactory. We can see that the benchmark interest rate of the Russian central bank has a considerable amount, so the level of revenue of ruble deposits is also declining sharply. "

Not long ago, the foreign currency deposits of ordinary Russians were mainly US dollars and euros. After February 24, everything changed. The unfriendly country frozen some foreign exchange reserves of the Russian central bank, imposed tens of thousands of sanctions on Russia, and destroyed the logistics supply chain.

The financial analyst of Bitt River Corporation Vladeslav Antonov believes: "The Russian Central Bank does not allow large amounts of foreign currency cash, and major banks collect large commissions on foreign currency accounts of unwavering countries, so they can use RMB to replace the US dollar. And the euro.

Investors' interest in Chinese currency is indeed greater and greater. Milichakova said: "The short -term traders of the Moscow Exchange have paid most attention to the US dollar and euro in the past, and they are not interested in RMB, because this foreign currency is not high, and the exchange rate fluctuations are not fierce. It is difficult to make a profit, unlike the US dollar or euro. Now, since the central bank of Western countries has taken many restrictions on Russia, foreign exchange dealers have greatly increased their interest in the RMB and the situation may become beneficial to the RMB. Later, traders' interest in Chinese currency greatly increased. "

The RMB has become the third largest active currency in the Moscow exchanges after a relatively not long period of time. Yafus Jayev said: "It does not rule out the possibility of the RMB transaction volume exceeding the euro in the next two months." In the Russian market, the basic framework of investing in the RMB has just begun to establish. Already started.

RMB bonds have begun to appear in the Russian bond market. For example, Russian Aluminum Corporation has just issued a two -year RMB bond with an annual interest rate of 3.9%. Yafus Jayev said: "Other Russian companies are likely to choose to issue RMB bonds."

Muslov said: "The RMB is expected in the Russian market, and now its transaction volume on the Moscow Exchange has caught up with the euro. Still dominant positions in the international market. "

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