Russian ruble started to be traded on the Foreign Exchange of China, becoming the seventh currency to be admitted to the trading on a platform of CFETS.
      
      At this moment traders do not show a big interest towards the ruble, analysing the new trading pair. According to the rate of changes, the daily fluctuation of the Chinese currency against the ruble couldn't exceed 5%.
      
      Trading in pair this two currencies is another attempt of the Chinese authorities to increase the popularity of yuan in commerce and investment projects, another aim is to reduce the dollar dependence. Thus, it is planned to simplify the tradings in all economic spheres from energy to industrial goods.
      
      In it's turn, the beginning of yuan trading on the russian foreign market is not so far — the MICEX plans to launch them in December. At this moment the negotiations are being held with the "VTB" and "Zenith" banks.
      
      "We are optimistic about this project — we border with China and it's obvious that trading between our countries will develop well, especially after the construction of the pipeline" — said Sergei Savitskiy, the vice-president of MICEX.
      
      rbc.ru
Author: Ksenia Dzhalagonia