Renminbi’s share of global payments rises slightly in July
China's currency retakes fifth place, but its overall share shrinks again, Swift says
The Chinese renminbi regained its position as the fifth most active currency for global payments in July, with a share of 2%, despite a slowdown in the currency’s path to internationalisation, according to payments infrastructure company Swift.
The latest figures show the value of renminbi payments was up from the 1.98% it registered in June; a big enough change to overtake the Canadian dollar, which accounted for 1.82% of global payments.
Overall, renminbi payments by value decreased by 3.71%
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