Swift announces RMB data, Cips collaboration

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By Noah Sin
28 Sep 2017

The renminbi held its spot as the world’s fifth most active payments currency in August, according to Swift’s RMB tracker. The news came just a day after Swift said it will start displaying China’s Cross-Border Interbank Payment System’s (Cips) data on its system.

The Chinese currency made up 1.94% of all global payments in August, slightly down from 2% in July, but just ahead of the Canadian dollar and Swiss franc, which accounted for 1.75% and 1.63% of all payments in this period.

The overall value of RMB payments was up ...

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