As of December 31, 2014, the latest data available, the US dollar was still dominating Russia's forex basket at 44 percent. The second most-used foreign currency was the euro with 42 percent. The British pound made up 9.5 percent.
According to Vesti.Finance, the Central Bank made the decision in November, but hasn't bought the yuan yet.
Russia to issue yuan bonds worth $1bn https://t.co/C2SMKl8fY1 pic.twitter.com/JV74XWUyvXโ RT (@RT_com) November 6, 2015
Russian investors began looking east, after the US-led group of Western counties imposed sanctions against Russia over Ukraine. Sanctions have deprived Russia access to Western capital markets. In particular, they affected state-owned banks like Sberbank, VTB, Vnesheconombank, Gazprombank and Rosselkhozbank (Russian Agriculture Bank).The lenders were cut off from long-term (over 30 days) international financing.
IMF ready to add yuan to reserve currency basket https://t.co/eV7s4nNBV8 pic.twitter.com/7EM56eEg9X โ RT (@RT_com) October 26, 2015
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