Proportion of International Payments Made in Yuan Grows for Third Straight Month
Xu Wei
/SOURCE : Yicai
Proportion of International Payments Made in Yuan Grows for Third Straight Month

(Yicai Global) Aug. 31 -- The proportion of international currency payments denominated in yuan increased for the third consecutive month in July, data from the Society for Worldwide Interbank Financial Telecommunications (SWIFT) show.

The proportion of international currency payments made in yuan rose from 1.98 percent in June, the highest level since last November, to 2 percent in July, SWIFT said.

In July, the tracker ranked the yuan as the fifth biggest global currency in terms of global payments, up from sixth a month ago.

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Keywords: SWIFT , Forex , CNY