[Money]
RMB moves up in global payments in November: SWIFT
by Shine
December 21, 2023[Money]
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The Chinese currency renminbi (RMB), or the yuan, climbed one position to become the fourth most active currency for global payments by value in November 2023, with a share of 4.61 percent.
Overall, the RMB payment value increased by 34.87 percent compared to October. In general, all payment currencies increased by 5.35 percent, said the Society for Worldwide Interbank Financial Telecommunication (SWIFT), a global provider of financial messaging services, Thursday.
Regarding international payments, excluding payments within the Eurozone, the RMB ranked 5th with a share of 3.15 percent in November.
In October, the RMB retained its position as the fifth most active currency for global payments by value, with a share of 3.60 percent.
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