Shulou(Shulou.com)11/24 Report--

CTOnews.com, August 24-the monthly report released by the Global Association of Banking and Financial Telecommunications (SWIFT) yesterday showed that in July 2023, the renminbi remained the world's fifth most active currency in the ranking of global payment currencies based on amount statistics, rising to 3.06%, the sixth month in a row. This is also the second time that the renminbi has accounted for more than 3% of global payments since records began.

▲ Tuyuan Global Banking and Financial Telecommunications Association monthly report CTOnews.com learned after inquiry that the RMB share last exceeded 3%, dating back to January 2022. At that time, the proportion of RMB in international payments reached 3.2%, breaking the previous record set in 2015.

In addition to the growing popularity of the renminbi, the monthly report of the ▲ Tuyuan Global Banking and Financial Telecommunications Association also showed that the use of the US dollar as the global payment currency increased sharply last month, ranking first with record payments of 46.46 per cent in July.

The dollar's growing share of payments in the SWIFT report is largely at the expense of the euro, which fell to 24.42% in July, the lowest since the launch of the euro.

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