Euro Notches Biggest Drop as Global Payment Currency Since 2011
- Ukraine war, inflation weigh on euro; dollar holds top spot
- Yuan’s share of payments drops amid Chinese economic woes
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The euro is being used less often as a global payment currency, posting its biggest percentage-point drop in more than a decade in March, as inflation and the war in Ukraine weigh on its appeal for transactions.
Meanwhile, the U.S. dollar remained in the top spot for a 10th consecutive month, and has dominated global payments for the most part since 2013, according to data from the Society for Worldwide Interbank Financial Telecommunications, or SWIFT.