Yuan Usage Extends Global Climb as Euro Share Slips, Swift Says
- Yuan’s share of global payments approaches 5%, data shows
- Dollar ranks first with 47%, followed by euro, pound and yuan
The yuan has been the world’s fourth-most transacted currency since November, according to Swift data.
Photographer: Lam Yik/BloombergThis article is for subscribers only.
The Chinese yuan is accounting for a growing share of international payments, while the euro’s share continues to ebb, according to transaction data compiled by global financial messaging service Swift.
The portion of transactions involving the yuan rose to 4.7% in March, the highest since Swift created a new baseline in July. The euro’s share dipped below 22% last month, under the 24.4% level logged when Swift introduced the new scale.