London retains top spot for offshore renminbi trading
The capital continues to dominate, despite the Chinese currency's overall share of payments shrinking, Swift says
The UK retained its position as the main offshore hub for trading the Chinese renminbi in the first quarter of this year – a reflection of the strong position that London continues to hold in the global foreign exchange market, according to payments infrastructure company Swift.
Figures published today show that in March, 36.6% of all renminbi FX transactions, excluding China, were conducted in the UK. Hong Kong followed with 29.3%, while the US and France shared third place with 7.3% each
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