Future of renminbi looks bright – Swift

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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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