RMB trading finally catches up! Russia reversed, Germany is now confused
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A significant shift in the exchange rate in the Moscow foreign exchange market.
In 2023, the Moscow Exchange will one day surpass the yuan and become the world's largest foreign exchange market. This is a major change and a major step for China to realize the internationalization of the renminbi. This shift stems from the growing economic and trade relations between China and Russia.
Among the major Russian exchanges, the volume of RMB trading is increasing rapidly. In terms of monthly trading volume, China has surpassed Europe and even surpassed for a long time. In 2023, though, things will be different. In the coming period, 42% of the currencies on Russian exchanges will be used for trading, and this year there will be 34Rs. 15 trillion in total turnover. During this period, the volume of the U.S. market has also decreased, and the market share this year is less than 40%.
Its turnover has nearly quadrupled, from 1025 trillion rubles soared to 3415 trillion. At the heart of this shift is Russia's gradual abandonment of its use of European currencies. Russia will favor the yuan more when it comes to conducting ** with China, especially when it comes to energy transactions with China.
Russia achieved a great reversal, overtaking Germany and ranking first in Europe.
With the complete abandonment of the euro, Russia will reverse its decline in 2023 and overtake Germany to become the largest economy in Europe. China and Russia have once again joined hands to create a new myth.
China's total amount to Russia has reached 210 billion, and most of it is paid in yuan or rubles, not in US dollars at all. Russia also stipulates that if India replaces Russian oil with India's currency, it can replace it with China's currency. For Russia, the consequences of supporting monetary policy are clear, with a huge rebound in GDP growth in 2023 at 35%。Russia** Putin noted during a political meeting that Europe's largest economic system has changed from Germany to Russia, not measured in terms of purchasing power parity. Germany used to be a loyal follower of the United States, and now Russia easily surpasses it.
Russia's impact on the adjustment of the RMB exchange rate.
Russia decided to fully support its currency, thereby carrying out a major reform of the world financial system. Previously, it was the largest currency in the world, but now, it has risen and challenged us in a new way.
Russia has abandoned and gradually abandoned the currencies of other Western countries, such as the euro and the yen, which is a sign of Russia's fiscal autonomy. Russia settles only in rubles and other third-party currencies, so the impact on its energy transactions is modest. Such a way of relying entirely on the country's exchange rate to conduct transactions allows Russia to better control its own economic wealth and reduce the risk of being affected by fiscal sanctions from countries such as the United States.
Russia's transformation is also an opportunity for China. China is the second largest economy in the world, and there will be more and more economic and trade exchanges with Russia in the future, and the cooperation between the two sides will also be further developed. This is not only conducive to promoting the internationalization of China's currency, but also has great significance for promoting the economic growth of China and the United States.
Brief summary. On the Moscow Exchange, in the last year, the yuan surpassed , the largest foreign exchange market in the world. Against the background of this change, economic and trade relations between China and Russia have been further developed. Russia completely abandoned the euro and focused on the yuan, thus reversing its economic situation and overtaking Germany to become the first place in Europe.
Russia's choice of exchange rate policy will not only change the world's financial system, but also provide a new opportunity for China. Strengthening the close cooperation of China-Russia economic and trade relations will provide more opportunities for the development of China and Russia, promote the internationalization of the RMB, and provide new momentum for Russia's recovery of growth. The economic and trade relations between China and Russia will be further developed, so that the two sides will achieve greater achievements in the economic and trade fields. At the same time, exchanges and cooperation between China and Russia in the global political field have made new efforts to promote regional and even global peace and development.
Looking forward to the future, the relations between China and Russia will continue to deepen and new achievements will be made. Worldwide, the renminbi is playing an increasingly important role in the world. At the same time, Russia will maintain a steady momentum of development and make more contributions to the development of the world economy. China and Russia have strengthened their role in promoting the development of the world economy and promoted the further improvement of the well-being of the people of all countries in the world.
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