Wang Ye said financial news: The latest data show that the renminbi is now in the top five most popular currencies for cross-border payments in the world, and recently ranked fourth for the first time in 6 years.
According to the latest data released by the Institute of Financial Telecommunications of Global Interbanks (SWIFT), trading activity in the renminbi has recently soared to the second highest level on record, that is, in December 2021, the renminbi accounted for about 2.7% of global payments (compared with 2.14% in the previous month), ranking fourth in the world.
So who are the top 3?
Wang Ye said that Finance and Economics noted that according to the latest data from SWIFT, the top 3 are still unchanged, specifically:
1) The world's most popular currency is still the US dollar, accounting for 41% of global payments, ranking "first" for 7 consecutive months;
2) In second place is the euro, which accounts for 37% of the world, falling to the lowest level in 8 months;
3) Third place remains the pound sterling and has been firmly in third place since 2011.
It is worth mentioning that in December last year, the yen was surpassed by the renminbi and ranked 5th in the world.
At the same time, Wang Ye said that Finance also noted that 10 years ago, that is, in 2010, when SWIFT began to track cross-border payment information, the RMB global ranking was only 35, and now it is ranked 4th, which is evident in the soaring speed behind this.
So the question arises: Why is the proportion of rmb payments soaring in the world?
In this regard, the media analysis commented that there are mainly the following reasons behind this, screenshots:
1) In 2021, the exchange rate of the renminbi against the US dollar rose for the second consecutive year, further enhancing the attractiveness of the renminbi;
2) In 2021, the renminbi also became the best-performing emerging market currency, of course, mainly due to the surge in exports, the widening trade surplus and the large inflow of capital into the Chinese market.
3) In 2021, global holdings of Chinese government bonds also hit a record high, which also expanded the proportion of RMB payments to some extent.
What do you think about that? What do you think will be the global share of the renminbi next?
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