RMB now second currency for documentary credit transactions
The renminbi’s share of activity in documentary credit transactions, where banks undertake to pay a supplier on behalf of a purchaser, increased from 7.32% in January 2013 to 9.43% in January 2015, according to the latest data from the Society for Worldwide Interbank Financial Telecommunication (Swift).
Unlock this article.
The content you are trying to view is exclusive to our subscribers.
To unlock this article: