RMB’s Global Payments Share Declines in June, SWIFT Data Shows
Posted: Wed Jul 20, 2016 1:41 pm
SWIFT, a global provider of financial messaging services, has released its monthly collection of data as part of its RMB tracker, which showed a rather uneven exposure of the Chinese currency relative to others during June 2016, having fallen to the sixth most utilized in the world, according to a SWIFT statement.
RMB adoption across the US and international payments venues has been a mixed bag – on one hand, centers such as New York are vying for RMB market share in direct competition with other leading financial nexuses such as London. Outside of this space however, payments in ... (read more)