Renminbi payments hold steady in June – Swift

China’s currency keeps its fifth most-used currency spot for global payments, according to Swift

Redback slides: the currency's share of payments was 1.81% in June, slightly down from May’s 1.88%

The renminbi maintained its position as the fifth most-used currency for domestic and international payments in June, despite its rapid depreciation, according to payments infrastructure company Swift.

The redback’s share of payments was 1.81% in June, slightly down from May’s 1.88%, despite steep drops as a result of headlines on escalating trade tensions between the US and China.

Meanwhile, the value of renminbi payments fell 3.65% compared with May, bucking the overall trend of a slight

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