What is special about this picture of a one yuan note? It was taken yesterday in Saint Petersburg. Ten years ago, hardly anyone wanted the yuan: It could not be easily exchanged for euros or US dollars. And people did not really want to keep it for future visits to China. The banknotes were often badly crumpled and dirty. That has changed. In Russia, the Chinese People’s Currency is currently in high demand, because it is considered much more stable than the ruble. This means that China’s announced renminbi internationalization is working – albeit differently than planned.