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Business > Foreign Business
Chinese yuan leads Russian foreign trade currency settlements
By Xinhua News Agency
Jun 17, 2023 12:10 am

ST. PETERSBURG: Over half of Russia's foreign trade currency settlements are conducted in Chinese yuan, Natalia Voevodina, president of Rosbank, said at the St. Petersburg International Economic Forum on Thursday.

Voevodina said that customers are not actively utilizing a wide range of currencies, as individual payments remain the norm. While the bank offers 12 different currencies for foreign economic settlements, the yuan and ruble are the most commonly used.

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