Renminbi steps further towards internationalisation

China’s currency has overtaken the Thai baht and Norwegian krone for use in global payments and continues to gain in popularity.

The use of the renminbi in international payments hit a record market share of 0.87% last month, growing more than threefold from 0.24% two years ago, according to Swift, an international payments platform.

¬ Haymarket Media Limited. All rights reserved.

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