Global Payments Made in Yuan Rose to 1.88% in May

  • Bloomberg
  • Forex News
Global Payments Made in Yuan Rose to 1.88% in May
Credit: © Reuters.

(Bloomberg) -- Society for Worldwide Interbank Financial Telecommunication says in an emailed statement.

  • The renminbi ranks as fifth most widely used currency for global transactions vs sixth a year earlier
  • Market share of the USD rose to 39.4%
  • Euro’s use fell to 34.2%, about the same level as last month
    • Spread between USD and Euro’s market share widened to 5.2%
  • U.K. is ranked second in countries using the CNY (following Hong Kong) with 5.46% of trade transactions conducted
  • NOTE: Due to significant delta between the fixed USD/VEF rate and the effective rate applied, Bloomberg removes the Venezuelan bolivar from this analysis

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