China’s RMB overtakes euro as second most-used trade finance currency

Region:

Asia-Pacific

Jonathan Bell

Editor-in-chief

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According to the Society for Worldwide International Financial Telecommunication (SWIFT), China’s renminbi (RMB) overtook the euro as the world’s second most-used trade finance currency in October. The data comes through SWIFT’s RMB Tracker* and applies to letters of credit (LCs) and collections.