RMB Usage Tanks in 2016, Falling to Sixth Most Utilized Currency by Payments

[kreslik.news]

SWIFT, a global provider of financial messaging services, has released its latest data compilation from its renminbi (RMB) tracker, capturing an overall yearly snapshot in the currency’s usage. During 2016, the RMB suffered a sizable decline in overall payments by value, relative to 2015, SWIFT data shows.

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While experiencing a notable uptick in recent years, 2016 was an abrupt reversal, coinciding with a -29.5% decrease YoY in the value for payments for the RMB relative to 2015. In addition, the RMB’s share as an international payments ... (read more)