On May 28, 2026, the Russian Central Bank purchased $16.93 million worth of Chinese yuan on the domestic foreign exchange market, according to official data. This transaction is part of the bank's ongoing currency operations to manage the ruble's exchange rate and diversify reserves.
The volume of purchases with settlements on May 27 was also $16.93 million, indicating a consistent daily intervention. The central bank has been actively buying yuan since 2023 as part of a shift away from Western currencies following sanctions.
These operations are conducted under the budget rule, which channels excess oil and gas revenues into foreign currency reserves. The yuan purchases help stabilize the ruble and support Russia's trade with China, its largest economic partner.
