Published on February 28, 2014
RMB Tracker February 2014
RMB Tracker – What is it? Monthly reporting and statistics on renminbi (RMB) progress towards becoming an international currency. 2
February RMB Tracker: • With an activity share of 1.39% in payments value, the RMB now ranks 7th, closely followed by the Swiss Franc at 1.38%. • In January 2014, RMB payments increased by 30.6% while the growth for all payments currencies was at 4.8%. • RMB payments are still heavily concentrated in the Hong Kong market with an activity share of 73%. • The eight next most active offshore RMB centres together represent 85% of total RMB payments by value (excluding Hong Kong and China). Source: SWIFT Watch 3
Leading Offshore RMB Centres Customer initiated and institutional payments. Inbound + Outbound traffic. Based on value . RMB top offshore centres weight and rank (excluding China and Hong Kong) RMB adoption worldwide (January 2014) China, 3% Other countries, 24% Hong Kong, 73% Source: SWIFT Watch Other countries split
RMB as world payments currency in value Customer initiated and institutional payments. Inbound + Outbound traffic. Based on value. Source: SWIFT Watch
RMB payments evolution Customer initiated and institutional payments. Inbound + Outbound traffic. Based on value . Source: SWIFT Watch
Want to know more? SWIFT enables YOU to gain unique insights at any time on the RMB progresses in becoming an international currency: - Market intelligence - Your financial institution activity - Your activity share and/or peer benchmark Key resources for more information: - RMB Package - Business Intelligence solutions Business Intelligence Transaction Banking #SWIFTBI 7
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