Perspective
04 December 2013
China’s RMB overtakes euro as second most-used trade finance currency
Region:
Asia-Pacific
According to the Society for Worldwide International Financial Telecommunication (SWIFT), China’s renminbi (RMB) overtook the euro as the world’s second most-used trade finance currency in October. The data comes through SWIFT’s RMB Tracker* and applies to letters of credit (LCs) and collections.
