Afaik only China and whoever did the transaction has access to the data. Which is interesting because like you say, such an arrangement only really benefits China (in terms of information) and is a minor drawback for other parties, yet in practice, nations still can't stop hugely lining up for CIPS.
Renminbi (RMB)/Yuan Appreciation & Internationalization
- Thread starter supercat
- Start date
supercat
Major
Amount of April payment confirmed:
This has been posted on this thread already. $1B this month and over $700m each month afterward.
Anyways, Egypt also considering trading in Yuan, Rupee and Ruble. little by little, things are moving along
Syria is a pretty small fish, but the goal is to get more MENA countries to use Yuan, especially Saudis & UAE. Not just start to use Yuan for some oil trade, but use Yuan for most of their trading with China
yep, RMB's new role is to busting Western sanctions. In fact, the main tool here is not RMB, but CIPS. I don't know how they can properly measure RMB usage when they only look at SWIFT data.
yep, RMB's new role is to busting Western sanctions. In fact, the main tool here is not RMB, but CIPS. I don't know how they can properly measure RMB usage when they only look at SWIFT data.
Somebody really should pull a George Soros and short the Yen (and USD) when the time comes.
We'll call it the "2024 G7 financial crisis".
broadsword
Brigadier
I suppose Japan will continue to carry the Plaza.
Personally, I believe the US still has some tricks to stall de-dollarization. This is why flipping France into the yuan camp is important.
Pre-2021 I would have said no fucking way that rumor is true. Now in 2023 I'm like sounds plausible for energy trade. EU oligarchs and elites all want to protect their dollar bank accounts.
I don't see how that is possible, when even Korea is going to be using its own currencies to trade with Indonesia. Both countries have non-deliverable currencies
They are more restricted currencies than RMB.
EUR is the 2nd most active currency out there and there really isn't that much oil/gas trading between the nations.
They are more restricted currencies than RMB.
EUR is the 2nd most active currency out there and there really isn't that much oil/gas trading between the nations.