China’s currency renminbi (RMB) or the yuan was the fifth most active currency for global payments by value in December 2022, as per a recent report. The yuan had a global share of 2.15 per cent for the previous month.When it comes to international payments without taking into account the eurozone, the RMB secured the seventh spot with a 1.47 per cent share, according to the Society for Worldwide Interbank Financial Telecommunication.
Moreover, Hong Kong has a 73.85 per cent market share when it comes to offshore RMB transactions, and is followed by Britain, the US, and Singapore, local media reports added.
China's currency renminbi (RMB) or the yuan was the fifth most active currency for global payments by value in December 2022, as per a recent report. The yuan had a global share of 2.15 per cent for the previous month. When it comes to international payments apart from the eurozone, the RMB secured the seventh spot with a 1.47 per cent share.
Fibre2Fashion News Desk (NB)