The share of RMB payments has increased significantly again, with Russia's imports and exports in the middle of the month | RMB | Russia
According to a report on the website of today's Russian television station on June 18th, the Central Bank of Russia recently stated in its latest assessment of financial market risks that in April, the share of RMB payments in Russia's exports and imports increased significantly again, reaching 23% and 31% respectively.
According to documents released on June 16th, in March, RMB payments accounted for 18% and 27% of Russia's import and export trade, respectively.
The Central Bank of Russia also stated that the monthly export value settled in RMB increased from 6.9 billion US dollars to 7.2 billion US dollars, and the import value settled in RMB increased from 7.7 billion US dollars to 7.9 billion US dollars.
According to reports, at the same time, in the Russian foreign exchange market, as the share of Western currencies dominated by the US dollar and euro decreased to 59.4%, the share of the Chinese yuan increased from 36.1% in April to 39.2% in May. In May, the share of the US dollar hit a new low, dropping to 43.7%.
According to reports, on the 16th, Russian President Vladimir Putin said that the increasing use of domestic currency in cross-border settlements such as energy trade marks the end of the dominant position of the US dollar in the global monetary system.