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The Chinese yuan has gained share as international payments currency in November 2015, according to the latest SWIFT RMB Tracker.
The data shows that the Chinese currency accounted for 2.28% of global payments in November 2015, up from a share of 1.92% in October 2015. The yuan, however, still lagged behind the Japanese yen (2.68% of the payments) in the ranking of international payment currencies and retained its #5 position.
The top three in the international payments currencies are: USD (42.68%), EUR (29.50%) and GBP (8.88%).
The highest position the RMB has ever achieved in the ranking was #4. In August 2015, the Chinese currency overtook the Japanese yen and made it to the top four. Back then, the RMB accounted for 2.79% of the international payments. Just a month later, the SWIFT report showed that the Chinese currency retreated back to #5.
You can download the latest SWIFT RMB Tracker (as slides) by clicking here.