Russia's Central Bank buys $22.41 mln worth of yuan on September 23
The Bank of Russia's latest foreign currency purchases included related settlement figures totaling 1.9 billion rubles for September 22.
Russia's Central Bank purchased $22.41 million worth of Chinese yuan on September 23, according to TASS.
The report notes that foreign currency purchases on the domestic market, with settlement dated September 22, totaled 1.9 billion rubles.
The central bank routinely conducts foreign currency operations as part of its management of Russia's national wealth fund and broader monetary policy tools, particularly given Western sanctions limiting access to some traditional reserve currencies.
The report did not provide further detail on the specific purpose of this particular transaction or how it fits into the bank's broader currency strategy for the period.
The yuan has become an increasingly prominent currency in Russia's foreign exchange operations amid its deepening economic ties with China following sanctions imposed by Western governments.
Sources
EGazette summarizes reporting from multiple sources; follow the links for the originals.
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