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The proportion of international currencies is a big reshuffle! The dollar fell to 42.02 percent, the euro 31.25 percent, and the yuan?
Aug 14,2023
A few days ago, SWIFT, an association for global banking, financial and telecommunications, released the latest data on the proportion of international currency payments in June this year. The proportion of US dollars and euros has declined one after another, while the proportion of RMB has increased significantly.
The proportion of RMB was elected fifth
A related report showed that the yuan rose 0.23 percent from May to 2.77 percent.
As far as the actual situation is concerned, on the basis of the strength of the state-owned economy, the pace of China and the United States is gradually narrowing, and the gap in financial and trade, asset financing and other matters is gradually narrowing. China's economic strength will also increasingly match its share of the international currency.
Although there is a huge gap between the proportion of RMB in the world and that of the US dollar at this stage, with the continuous implementation of China's sustainable economic development strategy, the international status of RMB will inevitably be improved in the future, and China's international status in global payment and trade assets will be more and more valued internationally.
Chinese economist Goldman Sachs believes that in the next five years, the renminbi, the world's foreign exchange reserves will reach 7%.
Dalio, the founder of the world's largest foundation, also predicts that the renminbi will become the world's third largest currency in the future, and ease the currency share of the fault phenomenon.
The first dollar fell.
While this year's report shows that the dollar's share of international payments is down 0.58 percent from the previous month, the dollar is still far ahead of the world's currency share, pulling 10 percentage points away from the second, still at 42.02 percent.
In this way, the dollar's position in the international arena is unassailable for other currencies.
Think of the dollar last year very strong competition, but now the United States League rate hike may have come to an end, the world began to de-dollarization.
Euro share fault
The second-ranked euro accounts for 31.25 per cent of international currencies. The difference from the third and fourth places is nearly 25 percentage points, which is often referred to as the big gap in the proportion of international currencies.
Although some countries are preparing to leave the European Union recently, it has not had a great impact on the euro.
However, due to market fluctuations, both the US dollar and the euro have a downward trend, which is a major breakthrough for the appreciation of the proportion of the international currency of the RMB, and the RMB should also take the initiative to achieve a sharp rise in the exchange rate.
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