Which currency does Haomei Aluminum generally use as the settlement currency?

It was yesterday that the "2022 RMB Internationalization Report" released by the People's Bank of China showed that the share of RMB international payments surpassed the Japanese yen to become the fourth payment currency in the world. That is to say, the renminbi has become the fourth payment currency in the world. In May 2022, the International Monetary Fund raised the weight of the renminbi in the special drawing rights from 10.92% to 12.28%, reflecting the recognition of the increased degree of free use of the renminbi. The traditional four major currencies are the US dollar, the British pound, the euro, and the Japanese yen. Today, the four major currencies have been converted into the RMB. The cross-border RMB settlement volume related to the real economy has maintained rapid growth, and the fields of bulk commodities and cross-border e-commerce have become new growth points. The endogenous demand of market players to use RMB to avoid exchange rate risks has gradually increased. Then, as one of China's foreign trade exporters, which currency does Haomei Aluminum generally use as the settlement currency and tell customers our price and quotation? Let's take a look today!

At present, the most commonly used settlement currency for export is the US dollar, and then the euro, the Japanese yen, the Hong Kong dollar, the Australian dollar, the British pound, etc., all of which are also done (generally, small currencies are only used for settlement upon customer requirements). And when we offer quotations, we usually use US dollars for quotation, and when settlement, we generally use four major currencies for settlement. So what are the four major currencies? We use USD, EUR, GBP and RMB for calculations. However, basically, when we communicate with customers in the early stage, we will still give priority to using the US dollar as the unit for quotation and export, and try to use the US dollar as the settlement currency in the later stage. Using these four currencies is still the most common choice. At the same time, the US dollar has recently appreciated while the RMB has depreciated. This is a good opportunity for you to stock up on aluminum! If you need it, please choose our aluminum products from Haomei!

Now do you know which currencies can Haomei be used for settlement? Let us summarize for you, Haomei Aluminum uses USD, GBP, EUR and RMB for settlement, but will use USD as the unit in the initial quotation. Now is a good time for American customers to buy Chinese aluminum products! Please contact us to make a purchase!