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.