In February, the typical charges on yuan deposits within the largest Russian banks fell under 4%. For 3-month deposits, they amounted to three.38% every year, for semi–annual deposits – 3.66%, and for annual deposits – 3.85%. These are the bottom values since September 2024, when charges started to say no after peaking at 5.32% every year in November.
The rationale was the restoration of liquidity: the forex deficit recorded in August-September triggered a rise in rates of interest, however later the state of affairs stabilized.
Most depositors select brief phrases of placement. On common, cash is positioned for five.5 months, whereas in January 2025 87% of deposits in yuan had been opened for 3 months. Nonetheless, this instrument stays a distinct segment one: over 94% of Russian deposits are nonetheless positioned in rubles, as ruble deposits supply larger returns.
Consultants predict an additional discount in deposit charges in yuan if the quantity of this forex available on the market continues to develop. The important thing price of the Individuals’s Financial institution of China, which is 3.1%, can also have an effect on the dynamics of charges.
