SWIFT Tracker Underscores Continued Decline in RMB Usage in 2018

[kreslik.news]

SWIFT has released the latest data report from its renminbi (RMB) tracker, outlining a monthly snapshot in the currency’s usage. The data reveals a continued decline of the RMB in terms of domestic and international payments by value, falling two positions in the global rankings.

Following a period of strong growth over the past two years, the RMB has found itself somewhat on the back foot in terms of its adoption. As of February 2018, the RMB was the seventh highest utilized currency, falling from fifth place just two years ago. Since then the Swiss franc and Canadian dollar have overtaken ... (read more)