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The Moscow Exchange became the first regulated market for the Yuan outside China in 2010.
Russia’s Moscow Exchange has reported that last Tuesday, May 28, it saw record trading levels for the popular Yuan-Ruble CNYRUB FX pair, since Yuan trading was introduced in 2010. In the first quarter of this year trading volume in the Yuan has increased by 40% on the Moscow Exchange versus the same period last year.
Overall, Yuan trading has become a lot more interesting since Chinese authorities increased that daily band in which the Yuan is allowed to float versus the other major currencies. We earlier reported that the same phenomenon has increased awareness of currencies among China-based retail FX traders, whose trading is up more than 30% this year.
For the Moscow Exchange press release on the Yuan trading record click here.