RMB’s global payment share up in March

The Chinese currency renminbi (RMB), or the yuan, saw its share in global payments rise in March, a report has said.

The RMB’s global share was up from 2.19 percent in February to 2.26 percent last month, according to the Society for Worldwide Interbank Financial Telecommunication, a global provider of financial messaging services. The currency remained the fifth most active currency.

In March, the RMB payments value gained 25.04 percent from a month ago, higher than the 21.46 percent increase in that of all payments currencies.

In terms of international payments excluding the Eurozone, the RMB ranked 7th with a share of 1.67 percent.