Renminbi's share of payments rises slightly in May

China’s currency regains position as sixth most used currency for global payments in May, with 1.61% share – Swift data

renminbi-note-man-china
Redback clawback: despite the rebound in May, the overall trend for renminbi usage is not encouraging

The renminbi regained its position as the sixth most used currency for international payments in May, with a share of 1.61%, rebounding from the seventh place it slipped to in April when the Swiss franc overtook it, according to payments infrastructure company Swift’s RMB Tracker.

Despite managing to claw back some of its lost share, the overall trend for renminbi usage is not encouraging. The redback hit its peak in August 2015, when it registered a share of 2.79%, but by the December the

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact customer services - www.fx-markets.com/static/contact-us, or view our subscription options here: https://subscriptions.fx-markets.com/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a FX Markets account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: