Yuan's share hits record high in global payments in March: SWIFT

[shockedcanadian]

These were the latest numbers in March. It was 3% in 2023, almost 5% a few months ago. It was one tenth of a percent in 2010.

Russia is now embracing the Yuan and to avoid sanctions and China is pushing other nations to trade in Yuan.

Do American politicians and the "50 years in government retirement plan" experts even care anymore? It seems "I will get what I can, F our future and let's the can down the road" seems to be the new definition of "competence".

Wait until the world realizes the quick bait and switch if China runs the world. They will be dreaming for the year 1989 to be reality.

Yuan's share hits record high in global payments in March: SWIFT - Global Times

www.globaltimes.cn

The share of the yuan in global payments rose to a record high in March, remaining the world's fourth most active currency ahead of the Japanese yen, data from global payment services provider Society for Worldwide Interbank Financial Telecommunication (SWIFT) revealed on Thursday.

According to SWIFT, the share of international trade using yuan settlements in March grew to 4.69 percent from 4 percent a month earlier, the highest level since SWIFT established a new reference system last July.

It mirrors a steady progress in the yuan's internationalization, the growing appeal of the yuan as a currency for global payments and settlements, and a bullish view on the long-term development momentum of China's economy with its vigorous business activities, analysts said.

The US dollar's share of global payments continues to exceed that of other currencies, remaining relatively stable in recent months at around 47 percent, SWIFT said.

The euro's share of international trade fell below 22 percent in March, down from 24.4 percent level when Swift introduced the new reference system.

The US dollar has maintained its dominance as the world's reserve currency since SWIFT started tracking payments, but the use of the Chinese yuan has risen steadily during the past decade.

When SWIFT began tracking the use of the yuan in 2010, the currency accounted for less than 0.1 percent of global settlements.

 

[Fort Fun Indiana]

These were the latest numbers in March. It was 3% in 2023, almost 5% a few months ago. It was one tenth of a percent in 2010.

Russia is now embracing the Yuan and to avoid sanctions and China is pushing other nations to trade in Yuan.

Do American politicians and the "50 years in government retirement plan" experts even care anymore? It seems "I will get what I can, F our future and let's the can down the road" seems to be the new definition of "competence".

Wait until the world realizes the quick bait and switch if China runs the world. They will be dreaming for the year 1989 to be reality.

Yuan's share hits record high in global payments in March: SWIFT - Global Times

www.globaltimes.cn

The share of the yuan in global payments rose to a record high in March, remaining the world's fourth most active currency ahead of the Japanese yen, data from global payment services provider Society for Worldwide Interbank Financial Telecommunication (SWIFT) revealed on Thursday.

According to SWIFT, the share of international trade using yuan settlements in March grew to 4.69 percent from 4 percent a month earlier, the highest level since SWIFT established a new reference system last July.

It mirrors a steady progress in the yuan's internationalization, the growing appeal of the yuan as a currency for global payments and settlements, and a bullish view on the long-term development momentum of China's economy with its vigorous business activities, analysts said.

The US dollar's share of global payments continues to exceed that of other currencies, remaining relatively stable in recent months at around 47 percent, SWIFT said.

The euro's share of international trade fell below 22 percent in March, down from 24.4 percent level when Swift introduced the new reference system.

The US dollar has maintained its dominance as the world's reserve currency since SWIFT started tracking payments, but the use of the Chinese yuan has risen steadily during the past decade.

When SWIFT began tracking the use of the yuan in 2010, the currency accounted for less than 0.1 percent of global settlements.

In 2019 the dollar yuan exchange rate was 6.91.

Now it is 7.18.

Do you think.maybe you're overreacting?

 

[shockedcanadian]

In 2019 the dollar yuan exchange rate was 6.91.

Now it is 7.18.

Do you think.maybe you're overreacting?

The price increase has nothing to do with reserve status. Sure, it's good for those with large sums of Yuan in the bank but as a function of a reserve currency it doesnt matter much.

What does matter if that they are cutting into the U.S dollar supremacy. This will continue if the U.S becomes insolvent due to excess debt.

 

[Fort Fun Indiana]

The price increase has nothing to do with reserve status. Sure, it's good for those with large sums of Yuan in the bank but as a function of a reserve currency it doesnt matter much.

What does matter if that they are cutting into the U.S dollar supremacy. This will continue if the U.S becomes insolvent due to excess debt.

The US will never become insolvent. That's a bizarre fantasy. It remains the number one investment in the world.

 

[shockedcanadian]

The US will never become insolvent. That's a bizarre fantasy. It remains the number one investment in the world.

You had better check out the global trade data a little closer, especially as debts and deficits are concerned.

 

[Mac-7]

These were the latest numbers in March. It was 3% in 2023, almost 5% a few months ago. It was one tenth of a percent in 2010.

Russia is now embracing the Yuan and to avoid sanctions and China is pushing other nations to trade in Yuan.

Do American politicians and the "50 years in government retirement plan" experts even care anymore? It seems "I will get what I can, F our future and let's the can down the road" seems to be the new definition of "competence".

Wait until the world realizes the quick bait and switch if China runs the world. They will be dreaming for the year 1989 to be reality.

Yuan's share hits record high in global payments in March: SWIFT - Global Times

www.globaltimes.cn

The share of the yuan in global payments rose to a record high in March, remaining the world's fourth most active currency ahead of the Japanese yen, data from global payment services provider Society for Worldwide Interbank Financial Telecommunication (SWIFT) revealed on Thursday.

According to SWIFT, the share of international trade using yuan settlements in March grew to 4.69 percent from 4 percent a month earlier, the highest level since SWIFT established a new reference system last July.

It mirrors a steady progress in the yuan's internationalization, the growing appeal of the yuan as a currency for global payments and settlements, and a bullish view on the long-term development momentum of China's economy with its vigorous business activities, analysts said.

The US dollar's share of global payments continues to exceed that of other currencies, remaining relatively stable in recent months at around 47 percent, SWIFT said.

The euro's share of international trade fell below 22 percent in March, down from 24.4 percent level when Swift introduced the new reference system.

The US dollar has maintained its dominance as the world's reserve currency since SWIFT started tracking payments, but the use of the Chinese yuan has risen steadily during the past decade.

When SWIFT began tracking the use of the yuan in 2010, the currency accounted for less than 0.1 percent of global settlements.

Nations that embrace the Yuan are putting their faith in a communist dictarorship

Russia has no choice under the circumstances, but other nations such as Brazil beware

 

[Bleipriester]

Nations that embrace the Yuan are putting their faith in a communist dictarorship

Russia has no choice under the circumstances, but other nations such as Brazil beware

The problem is rather that using the dollar creates independence on Uncle Sam´s goodwill. US investments in Brazil are on the decline while Chinese on the increase, by the way. So it could be just a natural development.

 

[Toro]

These were the latest numbers in March. It was 3% in 2023, almost 5% a few months ago. It was one tenth of a percent in 2010.

Russia is now embracing the Yuan and to avoid sanctions and China is pushing other nations to trade in Yuan.

Do American politicians and the "50 years in government retirement plan" experts even care anymore? It seems "I will get what I can, F our future and let's the can down the road" seems to be the new definition of "competence".

Wait until the world realizes the quick bait and switch if China runs the world. They will be dreaming for the year 1989 to be reality.

Yuan's share hits record high in global payments in March: SWIFT - Global Times

www.globaltimes.cn

The share of the yuan in global payments rose to a record high in March, remaining the world's fourth most active currency ahead of the Japanese yen, data from global payment services provider Society for Worldwide Interbank Financial Telecommunication (SWIFT) revealed on Thursday.

According to SWIFT, the share of international trade using yuan settlements in March grew to 4.69 percent from 4 percent a month earlier, the highest level since SWIFT established a new reference system last July.

It mirrors a steady progress in the yuan's internationalization, the growing appeal of the yuan as a currency for global payments and settlements, and a bullish view on the long-term development momentum of China's economy with its vigorous business activities, analysts said.

The US dollar's share of global payments continues to exceed that of other currencies, remaining relatively stable in recent months at around 47 percent, SWIFT said.

The euro's share of international trade fell below 22 percent in March, down from 24.4 percent level when Swift introduced the new reference system.

The US dollar has maintained its dominance as the world's reserve currency since SWIFT started tracking payments, but the use of the Chinese yuan has risen steadily during the past decade.

When SWIFT began tracking the use of the yuan in 2010, the currency accounted for less than 0.1 percent of global settlements.

Not gonna happen.

I've heard this for decades from the doomsayers, the anti-Fed wingnuts, the gold bugs, conspiracy whackjobs and the anti-Americans. The only reason why RMB transactions are way up is because the authoritarian states are de-dollarizing, which is understandable.

But other than that, the dollar is the only real option and will be for decades to come.

 

[JoeB131]

In 2019 the dollar yuan exchange rate was 6.91.

Now it is 7.18.

Do you think.maybe you're overreacting?

Shocked thinks there's a Chinese hiding under his bed, ready to leap out and get him tonite.

 

[Mac-7]

The problem is rather that using the dollar creates independence on Uncle Sam´s goodwill. US investments in Brazil are on the decline while Chinese on the increase, by the way. So it could be just a natural development.

Something that nations like Brazil may regret someday

Remember that china launched its Bricks and Road initiative that was a big deal at the time, but most of the nations involved are having 2’nd thoughts today

 

[Mac-7]

Shocked thinks there's a Chinese hiding under his bed, ready to leap out and get him tonite.

Keeping the Chicoms at arms length is alaws a good idea

 

[JoeB131]

Something that nations like Brazil may regret someday

Remember that china launched its Bricks and Road initiative that was a big deal at the time, but most of the nations involved are having 2’nd thoughts today

It was the Belt and Road initiative. Most countries that participated saw material benefit.

 

[JoeB131]

Keeping the Chicoms at arms length is alaws a good idea

Why? The only bad thing a Chinese has ever done to me is when the Mrs. puts too much spice in my food.

Then again, she's from Sichuan.

Seriously, thought... you guys have yet to tell me why we need to be afraid of China because of policies made by American Corporations to screw American workers. Seems like your anger is misplaced.

 

[Harpy Eagle]

In 2019 the dollar yuan exchange rate was 6.91.

Now it is 7.18.

Do you think.maybe you're overreacting?

I am pretty sure that is his middle name

 

[Mac-7]

It was the Belt and Road initiative. Most countries that participated saw material benefit.

You are right. Thanks for the correction

It bought communist china some military bases in the Indian Ocean it didnt have before

But I dont think china is going to forgive the loans go small countries are not s commercial success

 

[Mac-7]

Why? The only bad thing a Chinese has ever done to me is when the Mrs. puts too much spice in my food.

Then again, she's from Sichuan.

Seriously, thought... you guys have yet to tell me why we need to be afraid of China because of policies made by American Corporations to screw American workers. Seems like your anger is misplaced.

America had very bad policy toward communist china beginning in the 1990s because so many national leaders in and out of government misunderstood the chinese threat

And yes, American workers paid the price for their stupidity

 

[JoeB131]

America had very bad policy toward communist china beginning in the 1990s because so many national leaders in and out of government misunderstood the chinese threat

And yes, American workers paid the price for their stupidity

If those jobs hadn't gone to China, they would have gone somewhere else.

Heck, company I worked for between 2008 and 2015, we did a lot of outsourcing, to Malayia and Mexico. Very small amount to China.

I think we've been getting smarter since then, but we need to realize we are working in an international market, and the number of manufacturing jobs is delcining all over the world, not just in the US, as more processes are automated and optimized.

You are right. Thanks for the correction

It bought communist china some military bases in the Indian Ocean it didnt have before

But I dont think china is going to forgive the loans go small countries are not s commercial success

That sounds like India's problem, not ours.

Is China going to break Madagascar's legs if they aren't paid back?

"Okay, this is going to take a while, we want you all to form an orderly line while we break your legs."