China’s hopes of achieving global acceptance for the renminbi have been set back by data showing the share of international transactions in its currency at its lowest level in more than three and a half years.
Data from the Swift global bank payment messaging network showed the share falling from 1.85 per cent in September to just 1.46 per cent last month, its lowest level since April 2014.
That means the currency’s share has nearly halved since its peak in 2015.
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