Future of renminbi looks bright – Swift
Outlook good, despite drop in renminbi’s share of global payments
Despite a decline in usage of Chinese currency for international payments, there are still a number of factors supporting the long-term internationalisation of the renminbi, a new report says.
Published by global payments messaging service provider Swift, the report analyses trends in the currency over the past 12 months, noting a slowdown in internationalisation.
“The proportion of international currency payments (customer-initiated payments and institutional transfers) denominated in
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