The latest report released on February 29 on the official website of the Society for Worldwide Interbank Financial Telecommunication (SWIFT), which is based in Brussels, Belgium, said that RMB accounted for a larger percentage of the global payments in January due to the continuously expanded use of RMB for payments at the Southeast Asian market and steadily retained the fifth position among world’s top 5 payments currencies.

 

In January, RMB accounted for 2.45% of the global payments, with further increase compared to 2.31% in December 2015. Such market share of RMB in November 2015 was 2.28%.

 

In accordance with the report, since January 2013, RMB has been standing fast as the second most active currency in Malaysia. Malaysia’s use of the RMB for payments with the Chinese mainland and Hong Kong increased by 68% over the last 12 months and by 214% over the last three years.

 

RMB became the world’s fifth currency for global payments in November 2014, overtaking the Canadian and Australian dollars and closely following the US dollar, Euro, Pound and Yen.

 

Source: Translated from Invest Guangzhou, March 2, 2016