China's Yuan Falls To 6th Place Among Most-used World Payment Currencies China's - Foreign Affairs

China's Yuan Falls To 6th Place Among Most-used World Payment Currencies China's - Foreign Affairs - Nairaland

Nairaland Forum › Nairaland General › Politics › Foreign Affairs › China's Yuan Falls To 6th Place Among Most-used World Payment Currencies China's (539 Views)

1 Reply (Go Down)

China's Yuan Falls To 6th Place Among Most-used World Payment Currencies China's by ifyan(op): 7:37am On May 26, 2016

HONG KONG] China's yuan fell to the sixth place in April among most-used currencies for global payments by value with a market share of 1.82 per cent, global transaction services organisation SWIFT said on Thursday.

The yuan jumped to the fourth place last August, but gradually lost growth momentum as the volatile foreign exchange rate and China's sluggish economy dampened foreign investors' appetite to use or hold the currency.

The "redback" is now after the US dollar, the euro, the sterling, the Japanese yen and the Canadian dollar.

Overall, yuan payments value in April decreased by 7.73 per cent from a month earlier, while in general all payment currencies decreased by 4.6 per cent, SWIFT said.

Read more@www.nairausd.com/2016/05/chinas-yuan-falls-to-6th-place-among

Twitter@nairausd

1 Like