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Dollar Loses to Euro as Payment Currency for First Time in Years

  • Data from Swift, which handles cross-border payment messages
  • Canadian dollar overtook Chinese yuan for the fifth position
Bloomberg business news
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The euro was the most used currency for global payments last month, the first time it has outpaced the dollar since February 2013.

Data from the Society for Worldwide Interbank Financial Telecommunications, which handles cross-border payment messages for more than 11,000 financial institutions in 200 countries, showed the European Union’s single currency and the greenback were followed by the British pound and the Japanese yen. The Canadian dollar overtook China’s yuan for the fifth spot, Swift said.