information

The Bulletin cited other credit institutions such as the Russian Foreign Trade Bank, the Russian Postal Savings Bank, the Russian Industrial Bank of Natural Gas, the Russian Industrial Communications Bank, Alpha Bank, the Russian General Commercial Bank, and the Moscow Credit Bank. Now Russian enterprises can use RMB to borrow, hedge, and obtain guarantees. Individuals can open RMB deposit accounts, savings accounts, and receive RMB cash.

Now Russians can open RMB deposit accounts or savings accounts in 37 Russian banks. The Russian Foreign Trade Bank, Russian Postal Savings Bank, Alpha Bank and Moscow Credit Bank launched deposit accounts with a term of up to one year. Currently, General Commercial Bank of Russia only offers RMB deposit business to enterprise customers and VIP customers.

In October 2022, the trading volume of RMB in Moscow Exchange increased by 19%, reaching 1.5 trillion rubles. Compared with the second quarter, the average daily RMB trading volume of the Russian Foreign Trade Bank in the third quarter increased by 9 times. In the foreign currency registered foreign debts of the Export Bank of Russia, RMB debt accounts for 90%.