chinese currency second most active currency.
By Sums On Thursday,
SWIFT Reported that chinese currency second most active currency. Recent announced, SWIFT RMB Tracker shows that the chinese currency yuan is now the second busiest currency for payments between Japan and China / Hong Kong .
The RMB accounts for 7% of payments in value, parallel with 3% two years ago. In the last couple of years years, the RMB has gone from four place to place two. According to the latest SWIFT RMB Tracker, that Chinese currency is now the second most active currency between Japan and China / Hong Kong, RMB accounting 7% of payments in value, compared with 3% ago two years. So it really most active.
About chinese currency second most active currency, Yuji Takei, Head of Japan at SWIFT, Said : ” As China is one of the largest trading partners of Japan, we have been monitoring the use of the Chinese currency in Japan for a while. In June 2015, a Japanese bank issued Japan’s first yuan bond and other Japanese association are expected to follow that lead. That this shows increased confidence in the RMB, investment between China and Japan using the RMB and which could lead to further continuation of trade.
About SWIFT and RMB Internationalization :
Since 2010, SWIFT has actively supported its clients and the financial industry in relation to the internationalization of the RMB through various publications and reports. SWIFT is a member-owned cooperative that provides the communications platform, products and services to connect more than 10,800 banking organizations.
Source: swift .