Chinese yuan’s share in global payment exceeded 3% in August for 2nd time on record – SWIFT
DATA FOREX
Chinese yuan’s share in global payment exceeded 3% in August for 2nd time on record – SWIFT
DATA FOREX

Chinese yuan’s share in global payment exceeded 3% in August for 2nd time on record – SWIFT

 

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The Chinese yuan retained its position as the fifth most-used currency for global payments in July, with a share of 3.06% , according to the latest transaction data compiled by global financial messaging service Swift, marking the second time on record for the share to exceed 3%.

The first time that the yuan exceeded the 3% benchmark was in January 2022, when it reached 3.2%. 

The US dollar accounted for a record 46% in July, followed by t he euro, pound and yen, which accounted for 24.42%, 7.63% and 3.51% of the global total, showed the data.