Global renminbi adoption slows in June
Decline continues in the internationalisation of China's currency, overtaken by the Canadian dollar in payments by value
The Canadian dollar has overtaken the renminbi and entered the top-five global payment currencies by value, with a share of 1.96%, amid an expected slowdown of the Chinese currency's path to internationalisation, according to payments infrastructure company Swift.
Just three years ago, the redback ranked at position 10, with a share of 0.87%; last month it had 1.72%, down from the 1.90% it registered in May. During this time, the currency overtook several others, including the Swedish krona, the
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