Renminbi cracks top-five payment currencies
It leapfrogs Canadian and Australian dollars
The renminbi (RMB) has leapfrogged the Canadian and Australian dollars into the top five world payment currencies, according to data from financial messaging service Swift.
In December, the share of the renminbi in global payments reached 2.17% when judged by value – the highest since Swift started releasing its RMB Monthly Tracker in November 2011.
It has been a quick ascendancy. Two years ago, the renminbi ranked 13th on the list with a share of 0.63% and now it is chasing down the Japanese
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