According to the Russian Open Bank, the demand for RMB from retail customers has increased by 7 times. In other words, the Russian people are rushing to buy RMB cash, because there are not many currencies in Russia that can maintain and increase their value. Even the euro continues to fall, and the euro against the U.S. dollar It has fallen to the level of 1.01. Only by holding RMB can we be relatively stable and achieve the preservation and appreciation of wealth. Therefore, the trend of Russian people snapping up RMB cash will continue. At the same time, the share of RMB settlement in Sino-Russian trade will continue to expand. RMB It is becoming the best choice for the Russian people.
The U.S. dollar index continues to rise, and is now very close to the 110 mark. Non-U.S. currencies such as the euro and pound have fallen sharply against the U.S. dollar. The currencies of emerging countries have also fallen significantly. Globally, only the RMB is relatively stable and strong and can effectively resist the U.S. dollar. Continue to rise, so not only the Russian people like RMB cash, but even India also uses RMB settlement in coal trade. As expected, once the door to RMB settlement between countries is opened, a wave will be formed that will sweep most of the world. Countries and regions have become the most distinctive international trade landscape.
At present, the stock of RMB in Russia is quite large. On the one hand, the accumulation of local currency settlement between China and Russia for many years has caused a large amount of RMB to flow into Russia. Russians especially like the stability of the RMB currency; on the other hand, after the conflict between Russia and Ukraine, Russia's exports to China accept a large number of RMB payments and settlements, which has also caused the domestic RMB stock to grow rapidly. Both of these aspects have led to a significant increase in Russia's domestic RMB stock. In addition, the ruble exchange rate is unstable and frequent fluctuations have intensified. These factors have made Russia People prefer RMB for the purpose of maintaining and increasing value.
Even under the sanctions imposed by Europe and the United States on Russia, Russia does not lack euros and U.S. dollars. On the one hand, under the ruble settlement order, a large number of euros were deposited in designated Russian banks for exchange for rubles, so Russia does not lack euros, and buying in India When it comes to oil, Russia requires payment in US dollars, so there is no shortage of US dollars. However, the exchange rates of the US dollar and the euro fluctuate rapidly, and the fluctuation range increases. The exchange rate against the ruble has skyrocketed and plummeted. Only the RMB is relatively stable and strong against the US dollar. It is more convenient to exchange the ruble for the RMB. It can reduce exchange rate fluctuations, so Russians are more inclined to hold RMB cash.
Judging from the use of people's settlement in the India-Russia coal trade and the large stock of RMB in Russia, RMB settlement between countries is bound to achieve new breakthroughs in Russia. On the one hand, Russia is open to accepting RMB payments and promotes other countries to use RMB to purchase Russia. energy products. On the other hand, Russia will also use RMB to pay for goods in other countries. These two aspects will promote the rapid expansion of RMB settlement between countries, and the depth of RMB internationalization will rapidly expand. This is good for RMB internationalization. This will help the RMB achieve deeper internationalization.
As a public product provided by China's central bank to the world, it has the strong support of China's economy and the resilience of a stable and strong exchange rate. Its internationalization will become faster and faster, and its depth will become greater and greater. Under the current situation New internationalization opportunities have emerged, which are very rare and valuable. The People's Bank of China continues to build infrastructure for the cross-border flow of RMB, laying a solid foundation for the extensive flow of RMB around the world. The expansion of the depth of RMB internationalization is beneficial to China's financial industry The internationalization of the market is more conducive to China's integration into globalization. This is the result of the continuous growth of China's economy over the years.
