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RUSSIA: Yuan Trading Volumes on Moscow Exchange Surge in August

RUSSIA
  • Yuan trading volumes on the Moscow Exchange reached RUB 2.2trln in August, exceeding July’s volume by 16%, Kommersant report. However, there is still a shortage of Chinese currency on the money market, which led to an increase in repo rates to 60% per annum.
  • Russian LNG exports grew by 5.7% y/y in the first eight months of 2024, Kommersant report. The surge last month was driven by shipments to Asia, where demand rose due to heatwaves, as well as to Europe, the newspaper note.
  • Wholesale fuel prices in Russia are climbing, despite the government's ban on exports and other measures to support the domestic market, Vedomosti report. Exchange prices for Ai-92 gasoline in European Russia rose to 60,007 rubles per tonne on Tuesday, which is up 4% from a week earlier and the highest price since September 2023. Prices have risen 50% since the start of the year.
  • President Vladimir Putin holds talks with Malaysian Prime Minister Anwar Ibrahim on sidelines of the Eastern Economic Forum. Weekly CPI data will cross later today (17:00BST).

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