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Euro’s Use in International Payments Drops to Three-Year Low

  • The share of the dollar kept climbing in global payments
  • Chinese yuan share is at highest in five months: SWIFT

The euro’s use for international payments dropped in April to the lowest in three years as those using the US dollar ticked up and the Chinese yuan’s share rose to the highest in five months. 

Data from the Society for Worldwide Interbank Financial Telecommunications, or SWIFT, showed the proportion of cross-border transactions involving Europe’s common currency fell to 31.74% of the total in April from 32.64% in March. Dollar usage climbed further to 42.71% from 41.74%.