When it comes to currency payments, the first thing that comes to mind for many is the US dollar.

It must be acknowledged that the US dollar remains the most important settlement currency in international transactions and is also the most frequently used currency in the world.

However, in recent years, as various countries have started to "de-dollarize," the dollar's "hegemonic status" is no longer secure.

Looking at the global currency payment share data for this year, despite some issues in the US economy, it still holds the world's top spot with a 47.8% usage rate, while the euro has 22.5%.

So, what is the share of China's renminbi?

While everyone is familiar with currencies, many people may not be clear about the global payment share of currencies.

What is the purpose of this ratio, and what does it mean?

The currency share rate is closely related to a country's economic development, and we can also consider it as a measure of a country's important position on the international stage, as both countries and cities will compare themselves over a certain period of time.

Of course, the higher the currency share of a country, the better the liquidity of its currency, and it is recognized by many countries around the world, which is why its share is good because everyone is using this country's currency for transactions.

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It is well known that the US relies on "hegemonism" to maintain the dominant position of the dollar worldwide, but the US economy has been very troubled in recent years, with the economy once on the verge of collapse, and even many banks in the US have gone bankrupt, leading to a continuous decline in the US economy.

The most obvious issue is the severe inflation in the US, with prices soaring continuously.

Such a situation forces US residents to complain daily, as their monthly salary cannot support their lives, and some families are even in debt, greatly reducing the quality of life.

Some of the poorest people are left homeless on the streets.

However, in such a state, the US has not chosen to quickly lower interest rates for adjustment but is still trying to use the dollar to "harvest" from countries around the world, sharing the economic crisis with them.

Since 2022, the US has been raising interest rates periodically to ensure the normal operation of the country, which has also allowed many capitalists to see business opportunities and transfer all their funds to the US.

In this way, the economic crisis in the US has been alleviated.

However, due to the collapse of the US economy, many countries have been affected, with Japan being the most severely impacted, with its citizens' lives once falling into difficulty.

Although, during this period, countries around the world have been trying every means to sell dollars to reduce the impact on their countries, and to not disrupt national economic trade, some countries have even directly given up using dollars for transactions.

This has led to a continuous decline in the payment share of the dollar, even falling to 47.8%.

Although the usage rate of the dollar has been declining during this period, we can still feel that the dollar still has an absolute advantage in the world.

Many people still want to exchange their money for dollars, so many people deposit all their money into US banks, which can not only obtain high returns but also be considered a relatively stable currency investment.

It must be said that the dollar is still the most trusted currency transaction method for people around the world, and the transaction range of the dollar is very large, and transactions can be made in various fields.

Therefore, the dollar naturally becomes the main currency for currency transactions.

Of course, the US is currently a developed country in the world, and it is difficult to find a country that can compete with the US in the short term, so the dollar is still one of the important payment methods in the world.

After the release of this data, we can find that in addition to the obvious decline in the currency share of the dollar, the euro has also experienced a significant decline, with only 22.5% in this data statistics.

Although it is not particularly high, it can also be felt that the development of the European Union has been very stable in recent years, with neither a very high growth rate nor a particularly obvious decline.

However, looking at the currency share in recent years, there are still some problems with the euro, and it is very likely that the share will be below 20% in a short time.

The main reason for the decline of the euro is the "lack of strength" of the European economy.

Although several major production countries in Europe have good economic growth, there is still a big gap compared to the previous year, let alone those small countries in Europe, where economic growth is even less.

This has also led to a slow erosion of the international status of the euro.

Unlike the dollar, which has a strong economic system and is involved in various fields, the euro has a very limited usage range.

Coupled with the slow economic growth in Europe, the currency share has declined.

At present, the international status of the euro is not strong enough.

If European countries continue, the euro will be difficult to become an important international payment currency, and it may even exit the international trading market.

Of course, what people are most concerned about at present is the changes of China's renminbi in the international market.

The renminbi is not only closely related to every Chinese person but also has an important position in the international market, and it also has an important impact on the country's development and economic construction.

From this data, we can see that the share of China's renminbi has reached 4.74%, which also shows that with the development of the economy, the national strength and the quality of life of the people in our country have been solidly developed, and the renminbi is still ranked fourth in the world.

Last year, the international situation underwent a huge change, and many countries began to unite for their own selfish interests to carry out economic sanctions.

Of course, during this period, our country not only did not "go with the flow" but also adhered to the principle of "mutual help" for any country in the world.

It is this choice that has allowed our country's economy to achieve rapid growth in a short period of time, and the value of the renminbi has also been recognized and improved.

Especially in the trade between China and Russia, it is basically carried out in renminbi transactions, which has also improved the international status of the renminbi.

Now, China has become the world's second-largest economic system, and our country is also a major country for imports and exports.

In the process of trading with many countries, transactions are carried out in renminbi, which shows that the renminbi has a great appreciation space in the future.

In summary, the US economy has been in a "nervous" situation, and the US has no intention of lowering interest rates, so the development of the US at this stage is indeed difficult.

Coupled with the continuous turmoil of the dollar in the world, many countries have chosen to "de-dollarize" to reduce the impact of the dollar on the country, which has also reduced the payment ratio of the dollar.

But as for China, our country's renminbi is continuously rising, and it is precisely because countries around the world are choosing to "abandon" the dollar, and more and more countries are proposing to settle in renminbi.

I believe that in the future, with the continuous development of China's economy, our country's renminbi will be able to occupy a dominant position in the international market!