Renminbi payments jump in November

The currency overtakes Swiss franc and Canadian dollar as sixth most used for global payments – Swift

Renminbi flying: November's figures represent first increase for domestic and global payments since July 2017

The renminbi overtook the Swiss franc and the Canadian dollar in November 2017 as the sixth most-used currency for domestic and international payments, according to payments infrastructure company Swift.

The latest figures show the value of renminbi payments rose by almost 20%, compared with the previous month, to 1.75% – the first increase since July 2017. Meanwhile, the Swiss franc and the Canadian dollar fell to 1.58% and 1.57%, respectively.

The US dollar remains steady at the top of the

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