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Montevideo, October 2nd 2023 - 22:22 UTC

Tag: China currency

  • Monday, November 2nd 2015 - 09:18 UTC

    China's Renmimbi has become world's second most used currency in trade finance

    Markets expect RMB’s market share in trade settlement and payments to continue to grow anticipating China will further open up its financial markets.

    As China establishes itself as the world’s second largest economy and top trading nation, its currency, the renminbi (RMB), is also gaining popularity around the world. According to the People’s Bank of China’s 2015 Renminbi Internationalization Report, the RMB was the world’s 5th most used payment currency, the 2nd most used trade finance currency, and the 6th most traded currency in 2014.