Exchange rate for Yuan surpasses 11 rubles for the first time since July
Chinese Yuan Appreciates Against Russian Ruble
The Chinese yuan strengthened against the Russian ruble on July 24, 2025, with exchange rates around 11.08 RUB per 1 CNY. This appreciation, however, does not have explicit details on the factors driving this change in the available data.
According to the Bank of Russia's website, the central bank sold an additional 100 million rubles worth of yuan on the domestic market between July 22 and July 23, 2025. This sale could potentially be linked to efforts to stabilize the ruble or manage market liquidity amid currency fluctuations, although no concrete source confirms this action or rationale.
The Bank of Russia's annual report for 2024 highlighted the crucial role of yuan assets in maintaining financial stability. The report underscored the yuan's significance in market transactions and its role in forming reserve assets. The shift towards using the yuan in Russia's market transactions was a key focus in the report.
The Bank of Russia determines the Chinese national currency's exchange rate based on aggregated data from the exchange and over-the-counter segments of the foreign exchange market. On July 23, 2025, the Bank of Russia sold yuan on the domestic market with settlements totaling 9.8 billion rubles. By 10:12 AM Moscow time on July 24, 2025, the yuan appreciated by 5.9 kopecks, reaching 11.003 rubles. By 10:18 AM, the yuan's exchange rate further increased to 11.023 rubles.
The exact factors influencing the yuan's appreciation that day are not detailed in the search results. They likely include broader regional currency trends, market demand shifts, and relative economic or geopolitical developments affecting Russia and China around that time.
For more specific details, direct financial news reports or central bank statements from that date would be required, as the provided data does not cover these points in depth.
The Chinese yuan's appreciation against the Russian ruble on July 24, 2025, might be linked to the banking-and-insurance sector, considering the Bank of Russia's strategic focus on yuan assets and their role in maintaining financial stability, as per the 2024 annual report. The sale of yuan by the Bank of Russia could be a finance industry tactic to stabilize the ruble or manage market liquidity, as reported on their website.
