AKSJF - Sberbank Russia's largest lender is said to start lending in Chinese yuan

• Russia's Sberbank ( OTC:AKSJF ) has started to lend in Chinese yuan as Moscow seeks to bolster its financial system in countries that haven't forced sanctions on it, namely China, Reuters reported Tuesday, citing remarks from a bank official.
• There's apparently big demand to borrow in yuan, Alexander Vedyakhin, first deputy chairman of Sberbank's executive board, said at the Eastern Economic Forum in Vladivostok, as reported by Reuters.
• The yuan, meanwhile, is changing hands at its lowest level per U.S. dollar since August 2020, standing at 6.9584 against the greenback at the time of writing. That comes as the USD strengthens significantly against a wide basket of currencies.
• Sberbank did not immediately respond to a request for comment by Seeking Alpha.
• Previously, (Aug. 24) Russia reportedly poised to bring ruble bond sales back to life .

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