A staff member of the Bank of Communications demonstrates the use of the online wallet of digital RMB at the Happy Valley Beijing theme park the in Beijing, capital of China, June 16, 2021. (Xinhua/Chen Zhonghao)

RMB’s global payment share up in August

The Chinese currency renminbi (RMB), or the yuan, saw its share in global payments rise for a fourth straight month in August, a report has said.

The RMB’s global share was up from 2.2 percent in July to 2.31 percent last month, according to the Society for Worldwide Interbank Financial Telecommunication, a global provider of financial messaging services. The currency remained the fifth most active currency.

In August, the RMB payments value gained 9.25 percent from a month ago, higher than the 4.01-percent increase in that of all payments currencies.

In terms of international payments excluding the Eurozone, the RMB continued to rank sixth with a share of 1.55 percent.