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RMB Rises to Fourth in Global Payments
In November, the Chinese Renminbi (RMB) became the fourth most used currency globally for payments, holding a 3.89% share—a 22.12% increase from October—primarily driven by increased usage in Hong Kong, the UK, and Singapore, reflecting China's ongoing efforts to internationalize its currency.
RMB Rises to Fourth in Global Payments
In November, the Chinese Renminbi (RMB) became the fourth most used currency globally for payments, holding a 3.89% share—a 22.12% increase from October—primarily driven by increased usage in Hong Kong, the UK, and Singapore, reflecting China's ongoing efforts to internationalize its currency.
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