Renminbi's share of payments drops 19% in October
Chinese currency slips behind Swiss franc and Canadian dollar as seventh most-used currency for global payments – Swift
The renminbi dropped behind the Swiss franc and the Canadian dollar in October as the seventh most-used currency for global payments, in another sign that the Chinese currency’s path towards internationalisation is slowing down, according to payments infrastructure company Swift.
The latest figures show the value of renminbi payments fell by 19.10%, compared with September, to 1.46%, which allowed the Canadian dollar – which overtook the renminbi last month – to stay ahead. Meanwhile, the Swiss
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