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(CTN News) - Multiple trading executives told Reuters that China has significantly increased its use of the yuan rather than the U.S. dollar in the past year
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China has dramatically increased use of the yuan to buy Russian commodities over the past year, with nearly all of its purchases of oil, coal and some metals from its neighbour now settled in the Chinese currency instead of dollars, multiple trading executives with direct knowledge of the matter told Reuters.
Russia's largest bourse said on Wednesday that yuan-rouble trading volumes would outpace dollar-rouble trading next year, as Russia strengthens its economic ties with China in the face of sweeping... | September 28, 2022