The Chinese currency renminbi (RMB), or the yuan, climbed one position to become the fourth most active currency for global payments by value in December 2021, with a share of 2.7 percent, said t
he Society for Worldwide Interbank Financial Telecommunication (SWIFT), a global provider of financial messaging services, on Thursday.
The value of RMB payments increased by 34.6 percent compared to November 2021, while in general all payments currencies increased by 6.44 percent.
In terms of international payments, excluding payments within the Eurozone, the RMB ranked 6th with a share of 1.91 percent in December 2021.
In November 2021, the RMB retained its position as the fifth most active currency for global payments by value, with a share of 2.14 percent.
In terms of international payments, excluding payments within the Eurozone, the RMB ranked 6th with a share of 1.38 percent in November 2021.
- RMB usage in ASEAN countries continues to grow
- China’s foreign currency reserves at 3.0549 trln U.S. dollars
- RMB retains 5th spot as currency for global payments
- Digital RMB application continues to expend in China
- China, Singapore renew currency swap deal
- China’s digital RMB notches $12.35 billion in transactions in first 5 months
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