Financial industry agrees offshore RMB guidelines
Hong Kong, 13 February 2012 - As international use of the Chinese currency grew exponentially over the past eighteen months, financial institutions around the world identified important issues around efficient processing of payments, treasury and securities transactions using the renminbi (RMB). After initial discussions by groups of institutions in Hong Kong actively involved in settling offshore RMB across securities and transaction banking markets, the industry has now defined a new set of…
Luxembourg now Second Highest Euro Country in RMB payments
Brussels, 27 August 2013 – Luxembourg is ranked #8 in the world for RMB payments value (excluding China and Hong Kong) in July 2013, making it the second highest placed Euro country behind France at position #6 (see April Tracker).
RMB reaches record levels of payments activity between offshore centres
According to Swift data, RMB activity share for international payments between offshore trading centres increased to 3.25% in September.
United Arab Emirates shows stellar growth in RMB adoption
Special edition of Swift’s RMB Tracker for Sibos 2016 shows new frontiers for RMB internationalisation in Europe, Middle East and Africa (EMEA)
More than 100 countries are now using the RMB for payments with China and Hong Kong
Swift’s latest RMB Tracker shows that 57 countries have crossed the 10% RMB threshold
Swift report reveals RMB’s struggle to strengthen position in 2017
Digital usage on services such as Swift GPI sets the stage for improved RMB growth
Rise of the Chinese Influence Strengthens RMB Demand
Bold initiatives and investments paint a rosy picture for RMB internationalisation
Will Europe overtake Asia in RMB trade settlement?
Brussels, 29 October 2013 - When RMB trade settlement was opened up in June 2012 for any corporate in the world, adoption was to start regionally in Asia and then expand to Europe, the Americas, Middle East and Africa. That may have been so. Recent Swift data however shows that RMB customer payments - a good proxy for trade settlement - in Europe grew by 163% over the last year, much higher than the 109% observed in Asia (excluding China and Hong Kong) in the same period. Growth in Europe was…
South Korea and Taiwan use the RMB for the majority of payments with China and Hong Kong
Swift's RMB Tracker shows double-digit growth for cross border payments between several Asia countries and China and Hong Kong