The volume of payments in RMB increased by 15.6% in November 2022, while the volume of payments in other currencies increased by only 3.9%. About author TASS with reference to the monthly newsletter of the SWIFT system. Thus, global swaps in yuan outpaced other currencies in growth by four times. At the same time, the volume of payments in Chinese national currency decreased by 19.86% in October.
According to SWIFT, the yuan currently ranks fifth in global payments. The share of the Chinese national currency in November was 2.37%. Compared to October, the indicator increased by 0.6 points. In international settlements, the Chinese currency ranks 6th. Its share in November was 1.63%.
In November, the US dollar (41.4%), euro (36%) and British pound (7.09%) led the way in international payments.
While trading on the Moscow Stock Exchange on Thursday, the yuan rose above 10.2 rubles. This is the highest level since May 2022.
The yuan has been rising since Monday. later Chinese currency rose For the first time since July 8 for up to 9.5 rubles.
Yuan is now one of the most important currencies that has emerged before. declaration Expert of the exchange “socialbites.ca” “BCS World of Investments” Dmitry Babin. China’s economy is the second largest after the United States. And for Russia, China is the largest partner in international trade. Against the backdrop of harsh anti-Russian sanctions between countries, the volume of business transactions, including mutual payments in yuan and rubles, may increase. This makes the yuan a more attractive currency for investors, he stressed.