© Reuters. FILE PHOTO: Banknotes of Chinese yuan and Russian rouble are seen amid flags of China and Russia in this illustration picture taken September 15, 2022. REUTERS/Florence Lo/Illustration
(Reuters) – Russia’s central bank said on Tuesday that it was launching a new currency swap instrument as the volume of transactions between the rouble and yuan continues to grow.
The daily maximum volume for the instrument will be set at 10 billion yuan ($1.48 billion), it said.
“The new instrument is designed to limit the volatility of money market rates in the event of temporary imbalances,” the Bank of Russia said. ($1 = 6.78 Chinese yuan)
