Chinese yuan remained world’s 5th most-used currency for global payments in May, market share increased – SWIFT
DATA
Chinese yuan remained world’s 5th most-used currency for global payments in May, market share increased – SWIFT
DATA

Chinese yuan remained world’s 5th most-used currency for global payments in May, market share increased – SWIFT

 

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The Chinese yuan retained its position as the fifth most-used currency for global payments by value in May, 2023, according to the global provider of financial messaging services SWIFT.

The yuan share in global payments stood at 2.54% in May, up from 2.29% in April, showed the data. 

The value of payments in the yuan increased by 20.38% from that in the previous month, compared with the 8.75% increase in that of all payments currencies, according to the data.

In terms of international payments excluding the Eurozone, the RMB ranked sixth with a share of 1.51% in May.