Global renminbi adoption slows in June

Decline continues in the internationalisation of China's currency, overtaken by the Canadian dollar in payments by value

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Redback fall: global share was 1.72% in June, down from 1.90% in May

The Canadian dollar has overtaken the renminbi and entered the top-five global payment currencies by value, with a share of 1.96%, amid an expected slowdown of the Chinese currency's path to internationalisation, according to payments infrastructure company Swift.

Just three years ago, the redback ranked at position 10, with a share of 0.87%; last month it had 1.72%, down from the 1.90% it registered in May. During this time, the currency overtook several others, including the Swedish krona, the

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