Renminbi's global share of payments drops

But the Chinese currency is being increasingly adopted to settle transactions with China and Hong Kong

Slipping share: portion of global payments by value was 1.76% last month, down 27.35% since January

Global use of the renminbi for payments declined in February to its lowest level since October 2014 – a symptom of the slowdown in the internationalisation of the Chinese currency, according to payments infrastructure company Swift.

The renminbi's share of global payments by value was 1.76% last month, showing a drop of 27.35% from the level registered in January. Payments across all currencies decreased in value by 1.3% over the same period, data shows.

"The global volume of payments in

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