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As volumes continue to rise, 31 countries now use the renminbi for at least 10% of their payments with China. Which are they, and where to focus your next business development effort?
This month's SWIFT RMB Tracker continues to monitor the steady progress of the RMB as international payments currency and takes a closer look at those countries adopting - or not yet - the RMB for their payments with China and Hong Kong.
In July 2012, the RMB moved up one position to #15 most used payments currency with a market share of 0.45% (versus 0.43% in June 2012). As per last month's RMB Tracker, the renminbi has overtaken the South African Rand, which remains at 0.44%. It...