The Moscow Stock Exchange will start calculating the yuan bond index from November 14, the press service of the trading platform reported.
This decision is due to an increase in the number of transactions in Chinese currency on the markets of the Moscow Stock Exchange. In 2022, the volume of trade between Russia and China set a new record, increasing by 33%. In the first 10 months, it grew to $153.9 billion.
According to Kirill Pestov, Managing Director of the Department of Trade Development of the Moscow Stock Exchange, investors should have opportunities to diversify their portfolio while maintaining their currency profile.
The new index will be calculated in two versions:
- the total revenue index reflects the change in value of accrued income bonds and coupons subject to reinvestment of coupon payments (index code – RUCNYTR);
- the net price index shows the change in the value of the bonds without taking into account the accumulated coupon income (index code – RUCNYCP).
The new index will be calculated daily after the end of the main trading session. There are currently seven bond issues outstanding, which are denominated in Chinese currency. Its total volume exceeds 31 billion yuan. Since April 2022, the share of the Chinese yuan-Russian ruble currency pair has risen from 6% to 39.6%.
Author:
Natalia Gormaleva
Source: RB
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