RMB becomes world's 8th largest payment currency - SWIFT

SWIFT: RMB becomes world's 8th largest payment currency -  AASTOCKS 2014-01-23 15:02:14

According to the latest SWIFT report, the Chinese yuan has become one of the top 10 world payments currencies as it ranked eighth in December 2013, topping the Singapore dollar and Hong Kong dollar; total RMB payments in the month rose 15% over the previous month, with a market share of 1.12%, Reuters reported.

The report said the yuan's market share has overtaken 22 currencies in the last three years, and it beat euro in October 2013 and became the world's second most used currency in trade finance.

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