Yuan’s Global Popularity Keeps Rising With Usage at Record High
- Renminbi’s share hits 3.2%, posting highest-ever transactions
- Dollar, euro lose ground but still retain the top two spots
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The Chinese yuan is making deeper inroads as a currency of choice for global payments, with international transactions climbing to their highest level ever.
Payments using the renminbi, as the currency is also known, jumped to a record 3.2% of market share, according to data from the Society for Worldwide Interbank Financial Telecommunications, breaking through its previous high set in 2015 that came on the back of a currency devaluation in a bid to increase exports.