Surge in RMB payments between offshore centres
Clearing centres outside China drive the internationalisation of the RMB
The value of payments between offshore renminbi-trading centres have surged by more than 800% over the past two years, cementing the currency's place as the world's seventh-most used payment unit – up five places from January 2013, and overtaking the Swedish krona, and the Hong Kong and Singapore dollars.
The share of RMB payments accounted for 1.72% of global payments, another record high, while the value of overall flows increased by 13.2%, according to the Swift RMB Tracker. The data shows
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