US rivals shunning dollar lifts yuan-ruble trading by 1,067% | The Paradigm Shift Channel ⏳

US rivals shunning dollar lifts yuan-ruble trading by 1,067% to almost $4 billion since the end of February. “The main players in the yuan-ruble market are corporations and banks, but there is also a growing interest from retail investors,”.

Volume in the dollar-ruble pair sank to the lowest level in a decade, based on its 20-day moving average. The ruble rallied 118% against the USD between early March and late May.

Russia's central bank could impose negative interest rates on certain dollar and euro deposits to encourage the use of other currencies, especially China's yuan. China's trade with Russia rose 12% in March year-on-year.