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…
Read moreSWIFT 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…
Read moreSWIFT has just published the latest edition of its RMB Tracker, the monthly report that monitors the international use of the Chinese currency. The latest report shows that the Yuan gained some share as a world payments currency in January 2016, although it stayed at #5 in the ranking. The RMB accounted for 2.45% of…
Read moreThe 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…
Read moreThe 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%…
Read moreThe latest SWIFT RMB Tracker is out, showing that the Chinese yuan stayed at the fifth position in the ranking of world payment currencies in October 2015. In October 2015, the RMB accounted for 1.92% of global payments. At the same time, RMB payments value decreased by 23.53% compared to September 2015, whilst in general…
Read moreThe 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…
Read moreThe 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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