In Russia, the dollar and yuan exchange rates have begun to diverge sharply
The Russian market has seen destabilization of the dollar and yuan cross rates.
The US dollar has been showing growth against the ruble in recent days, while the yuan has remained inactive.
Economists note that previously these currencies acted in sync with the ruble, Kommersant writes.
However, sharp jumps in the dollar are now being recorded on the over-the-counter market, while the yuan exchange rate remains stable.
Previously, such jumps were cut by market participants who made money on the difference in rates.
This contributed to the establishment of the correct value of exchange rates.
According to analysts, arbitrageurs are not currently willing to take risks.
Economists emphasize that the answer lies in exchange rate formation.
The exchange rates of the dollar and euro, as well as other currencies, after the sanctions against the Moscow Exchange, are determined on the interbank market.
The sharp jumps in cross rates are likely related to the fragmentation of the currency market.
Thus, the excess supply of the yuan makes it cheap on the stock exchange relative to the yuan on the interbank market.
