In February, the average rates on yuan deposits in the largest Russian banks fell below 4%. For three-month deposits, they amounted to 3.38% per annum, for semi–annual deposits - 3.66%, and for annual deposits - 3.85%. These are the lowest values since September 2024, when rates began to decline after peaking at 5.32% per annum in November. The reason was the restoration of liquidity: the currency deficit recorded in August-September triggered an increase in interest rates, but later the situation stabilized. Most depositors choose short terms of placement. On average, money is placed for 5.5 months, while in January 2025 87% of deposits in yuan were opened for three months. However, this instrument remains a niche one: over 94% of Russian deposits are still placed in rubles, as ruble deposits offer higher returns. Experts predict a further reduction in deposit rates in yuan if the volume of this currency on the market continues to grow. The key rate of the People's Bank of China, which is 3.1%, may also affect the dynamics of rates.
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