RMB retains 5th spot as currency for global payments

The Chinese currency renminbi, or the yuan, has retained its position as the fifth most active currency for global payments by value in June 2022, with a share of 2.17 percent, said the Society for Worldwide Interbank Financial Telecommunication (SWIFT).

The value of RMB payments increased by 6.61 percent compared to May 2022, while in general, all payments currencies increased by 5.3 percent, according to SWIFT, a global provider of financial messaging services.

Regarding international payments, excluding those within the Eurozone, the RMB ranked sixth, with a share of 1.45 percent in June 2022.