Judging by the data published by SWIFT, the international interbank system for transferring information and making payments, the yuan is losing its position, but the popularity of the euro is increasing.
Since November 2011, that is, since tracking the frequency of currency use became technically possible, the yuan has remained the undisputed leader. Moreover, the Chinese currency has constantly strengthened its position. But since 2014, its activity has been declining. This is due to the increasingly frequent use of documentary operations and trade finance. At the moment, the Chinese currency occupies the third position, after the euro and the US dollar.
And three years ago, the yuan ranked second in the field of documentary operations.
In the field of international payments, the Chinese currency also fell a point lower, losing its 5th place to the Canadian dollar. So far, Chinese economists argue that the overall economic situation has had a negative impact on all currencies, not just the yuan.
