Use RMB!Indian companies paid

Liang Yizhi

According to Reuters, India's largest cement manufacturer Superko Group purchased a coal worth about 172 million yuan from Russia's Siberian coal energy company. The transaction was paid in RMB.

The picture intercepts from Reuters

Reuters mentioned in a report on the 29th that the details of the above transactions are from a customs document in India. The total coal purchased by India Chaoke Group this time is about 157,000 tons. The RMB, the receipt is the branch of the Russian company in Dubai, UAE.

Reuters commented in the report that India and Russia traded RMB in order to avoid the various sanctions that Russia suffered in the international financial market after the Russian and Ukraine conflict. This approach also promoted the internationalization process of the RMB and shook the US dollar Rule of dominance in global trade.

"This measure is of great significance. In my 25 -year career, I never heard that some Indian entities paid international trade orders with RMB. Society.

The report also mentioned that India has always hoped to establish a trading system for paying payment with the Indian rupee, but this system has not yet been established, and Russian companies have traded a lot in the past few years.

Therefore, during the Russian -Ukraine conflict, India chose to use RMB to trade with Russia. Generally speaking, Indian merchants will pay the US dollar in the mainland of China or Hong Kong, or the Bank of China that has a cooperative relationship with themselves to pay the US dollar at the exchange rate and collect it. The side is exchanged for the RMB for these Indian companies for Indian merchants to pay Russia.

Regarding this way of transaction, the Indian government said that he was "informed" by this. An Indian official who was in office stated that it was very rare to pay to countries outside China outside China. However There will be more in the future.

The former Minister of Economic Affairs of the Ministry of Finance of India said: If the three currencies of the "RMB-India-Russia-Russia" trading system can be built in the future, it will be more attractive to India.

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