"When it comes to forex trading, you are aware that the yuan has already outperformed the euro. I think that in the near future, yuan will become the number one currency on... MOEX," Alexander Vedyakhin, the first deputy chairman of Sberbank's executive board, said on the sidelines of the Eastern Economic Forum (EEF).
When asked about the share of yuan in trading between Russia and its partners, the official said it was 3% last year, but Russia's largest bank expects it to be 10-12% this year and 20% or more next year.
At the end of Tuesday's trading session, the volume of trading in Chinese currency amounted to 41.456 billion rubles ($678 million), compared with 38.036 billion ($37.7 billion) euros and $70.196 billion.
The 7th EEF is held from September 5-8 in Vladivostok, on the Far Eastern Federal University campus. The Sputnik news agency is an information partner of the forum.