Tag: RMB internationalization

March 30, 2016 BY Maria Nikolova

SWIFT: Chinese yuan accounts for 1.76% of global payments in Feb'16

SWIFT has earlier today published the latest edition of its RMB Tracker, the monthly report that monitors the international adoption of the Chinese currency. The yuan accounted for 1.76% of international payments by value in February 2016, down from a share of 2.45% in January 2016. Despite the fall, the Chinese currency remains at #5…

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March 26, 2016 BY Maria Nikolova

SWIFT, China International Payment Service Corp sign memorandum of understanding

SWIFT announced on Friday that it has signed a memorandum of understanding (MOU) with China International Payment Service Corp., (CIPS Co.). The MOU details plans for strategic co-operation to develop China’s Cross-border Interbank Payment System (CIPS) leveraging SWIFT as a channel to connect CIPS with SWIFT’s global user community. SWIFT Chief Executive of Asia Pacific…

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January 28, 2016 BY Maria Nikolova

SWIFT: Chinese yuan accounts for 2.31% of global payments in Dec'15

The latest SWIFT RMB Tracker, the study which tracks the Chinese yuan international adoption, was published today, showing that the Chinese currency gained share as a world payments currency in December 2015. In the last month of 2015, the RMB accounted for 2.31% of global payments, with an increased market share compared to 2.28% in…

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November 30, 2015 BY Maria Nikolova

DGCX plans to introduce Chinese Yuan Futures in December 2015

The Dubai Gold and Commodities Exchange (DGCX) on Friday unveiled its plans to add Chinese Yuan Futures to its offering, with the launch scheduled for December 2015, pending regulatory approvals. The contract will be financially settled on the same day as offshore equity index futures, and will hold a value of USD 50,000. It will…

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November 26, 2015 BY Maria Nikolova

ECB, People’s Bank of China test bilateral currency swap arrangement

The European Central Bank (ECB) and the People’s Bank of China (PBOC) today announced the successful testing of their bilateral currency swap arrangement. The arrangement was established in October 2013, with a maximum size of RMB 350 billion and EUR 45 billion. As part of the ECB’s plan to regularly test its operational capabilities, the…

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