Global renminbi payments triple in value

RMB overtakes the SEK and NOK in value of payments over the past two years

renminbi-notes

Payments in the renminbi have tripled in value over the past two years, and more than one-third of all financial institutions now use it for payments to Greater China and Hong Kong, according to the latest data released by payments-processing company Swift.

The renminbi is currently the world's seventh most-used currency in terms of payment value. It has overtaken the Norwegian krone, the Swedish krona, the Thai baht, the Hong Kong dollar and the Singapore dollar since January 2013, when it was

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