According to the Central Bank’s summary of key indicators of professional participants in the securities market, the summary states: “Overall, the amount of currency purchased by the population over the course of the year was 1.06 trillion roubles, while the monetary balance of individual economic and bank accounts (in dollar terms) decreased, as the currency acquired was mainly transferred to accounts abroad.
In addition to the currencies of unfriendly countries, individuals bought RMB (138 billion rubles per year in net terms), Hong Kong dollars (14 billion rubles), Belarusian rubles (10 billion rubles) and gold (7 billion rubles).
Some of the money has been used to buy renminbi bonds, but overall there are still limited instruments denominated in alternative currencies.
The central bank of Russia pointed out that the high turnover rate of yuan trading at the end of the year was mainly guaranteed by the carry trade.
Post time: Mar-20-2023