OREANDA-NEWS  The yuan has entered the top three currencies that Russians use to store savings in cash, Izvestia writes with reference to a survey by investment broker Finam. 17% of Russians hold cash in Chinese currency.

The ruble remains the most popular currency for storing cash. It is chosen by 34.9% of Russians. The US dollar is in second place, 28.3% of the population keep their savings in it. The fourth place is occupied by the euro (8.4%), followed by the Hong Kong dollar (6.9%) and the Swiss franc (1.9%).

Major brokerage and credit organizations have confirmed the popularity of the Chinese currency. Indeed, last year there was an unprecedented demand for yuan in the market, the company "Digital Broker" emphasized. They explained that the main reason was the geopolitical crisis that broke out in early 2022 and the sanctions confrontation. This hit hard on the reputation of the main foreign currencies, which were traditionally used in the Russian Federation to save money.

According to the company "Digital Broker", in 2022, the demand for yuan in the market increased due to "the geopolitical crisis that broke out at the beginning of 2022 and the sanctions confrontation." These factors had a negative impact on the reputation of the main foreign currencies that were used to save money in Russia.

According to Kommersant, based on data from the Moscow Stock Exchange, by the end of February, the yuan became the most traded currency in Russia. Over the past month, the volume of Chinese currency trading exceeded 1.48 trillion rubles, a third higher than in January. The yuan accounted for almost 40% of the total volume of trading in major currencies, the dollar — about 38%, the euro — 21.2%.