Renminbi payments double between China and Japan

It eclipses US and Hong Kong dollars while yen stays top

dollar-and-renminbi-rolls
On a roll: the renminbi overtakes the US dollar

The renminbi has emerged as the second most-used currency for Sino-Japanese transactions, more than doubling its share of payments between Asia's biggest economies in two years.

The Chinese currency now accounts for 7% of payments between Greater China and Japan, compared with 3% two years ago, according to Swift. It therefore surpasses both the Hong Kong and US dollars, which were used in greater volumes in 2013.

"Although the Japanese yen retains its top position as the number-one currency

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 info@fx-markets.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to FX Markets? View our subscription options

Most read articles loading...

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: