Swift records 29.5% decline in renminbi payments
Canadian dollar overtakes renminbi to become fifth most used for international payments
Data from global payments messaging service Swift has shown the renminbi suffered a marked decline in payments by value last year, closing out 2016 in sixth place among currencies used for international payments.
Published on January 26, the data forms part of Swift's examination into the renminbi's internationalisation. Compared with 2015, the payments value for the renminbi decreased by as much as 29.5% in 2016, with its overall share of transactions dropping from 2.31% in December 2015 to 1
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