Renminbi's share of global payments slides

China's currency holds sixth place globally, but its overall share continues to shrink, Swift says

Keyboard, mouse and Chinese money
Redback reduction: the latest figures show a month-on-month fall in overall renminbi payments by value of 2.83% since December 2016

The Chinese renminbi retained its position as the sixth most-used currency for international transactions in January, with a share of 1.68%, according to payments infrastructure company Swift.

The latest figures show a month-on-month decline in overall renminbi payments by value of 2.83% since December 2016. Globally, payments in all currencies decreased by 2.55%. Last month’s fall follows a tough year for the renminbi, which declined by as much as 29.5% in 2016.

China’s currency remains

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