The Chinese currency renminbi (RMB), or the yuan, has retained its position as the fifth most active currency for global payments by value in February with a larger share, a report has said.
The RMB’s global share stood at 2.19 percent last month, up from 1.91 percent in January, according to the Society for Worldwide Interbank Financial Telecommunication (SWIFT), a global provider of financial messaging services.
In February, RMB payments value gained 7.52 percent from a month ago, compared with the 6.54-decline in that of all payments currencies.
In terms of international payments excluding the Eurozone, the RMB ranked eighth with a share of 1.48 percent last month.