Renminbi's global share of payments drops
The Chinese currency fell to sixth place last month, overtaken by the Canadian dollar
Global use of the renminbi for payments declined in April to 1.82%, meaning the Chinese currency has fallen back one position and now sits on sixth place, behind the Canadian dollar which has a share of 1.83%, according to payments infrastructure company Swift.
Although the gap between the two currencies is minor, the overall renminbi payments value decreased by 7.73% compared with March, whilst payments across all currencies decreased by 4.60%, according to the monthly statistics provided by
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