SWIFT Says RMB Internationalization Stalled Last Year

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The Society for Worldwide Interbank Financial Telecommunication (SWIFT) says that the payments value for RMB decreased by as much as 29.5% in 2016, while the Chinese currency’s share as an international payments currency dropped from 2.31% in December 2015 to 1.68% in December 2016, signaling that years of currency internationalization efforts stalled last year.

China Money Network

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