shockedcanadian
Diamond Member
- Aug 6, 2012
- 31,510
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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.
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.
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.
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.