The yuan exchange rate on the Moscow Stock Exchange fell to 11.5 rubles for the first time since June 28, 2024

The yuan exchange rate dropped below 11.5 rubles on Monday, March 17, for the first time since June 28, 2024. This is evidenced by the data at the auction on the Moscow Stock Exchange.

According to the data, at 16:23 Moscow time, the yuan exchange rate fell by 2.61%, or 31 kopecks, and amounted to 11.49 rubles. As of 4:55 p.m., the yuan's quotation dropped to 11.48.

At the same time, the exchange rate of the yuan, set by the Central Bank of the Russian Federation on March 15, is 11.81.

On February 6, Arthur Meinhard, head of the Global Markets Analytical Department at Fontvielle, told Izvestia about the reasons for the yuan's depreciation. According to him, the drop is justified by China's late recalculations against the background of public holidays in the country.