KASE Launches Trading in Chinese Currency

The Kazakhstan Stock Exchange (KASE) has officially begun trading securities settled in Chinese yuan, on March 3, Orda.kz reports.

According to KASE, the exchange can now facilitate share, bond, and other security placements using specialized trading, subscription, and public offering methods. These new mechanisms are designed to expand investment opportunities, especially for attracting Chinese investors.

Meanwhile, on March 3, the yuan slightly depreciated on the currency market. The CNY/KZT pair is currently trading at 68.3 tenge per yuan.

In June last year, Russia’s Central Bank reported that, due to sanctions, the yuan had become the dominant foreign currency in Russia, accounting for over half of all transactions on the Moscow Exchange. 

Original Author: Nikita Drobny