Recently, the RMB trading volume surpassed the US dollar for the first time on Moscow Exchange , becoming the foreign currency with the largest trading volume on the exchange. However, this is not the result of free choice of the market, so it needs to be tested by the market in the future.
This year, in order to counter Europe, Russia announced that crude oil and natural gas forced settlement with rubles , completely excluding the euro and the US dollar. In addition, Russian natural gas company announced that it will take the method of rubles and RMB each in the future to account for 50%.
This will naturally cause the trading volume of the euro and US dollar to plummet, and the proportion of the RMB will increase.
After Russia took this measure, the ruble exchange rate soared, and the stock market also rebounded sharply. In order to prevent foreign exchange loss, Russia also implemented a ban and was not allowed to exchange foreign exchange.
However, over time, the Russian stock market has fallen back to its prototype, and Russian ruble fell below 60 rubles against the US dollar, erasing most of the gains.
After all, the open market can be banned, how can the black market be banned!
I firmly support the internationalization of the RMB. Russia and our trade accounts for only 1% of the total, and it cannot be used as a decisive work. I suggest that in the future, our foreign trade will gradually implement RMB settlement, starting with a ratio of 5%, and then increasing year by year. This is the key to internationalization.
As the world's second largest economy and the largest commodity trading country, we must complete it and will surely be able to complete the internationalization of the RMB.
