The volume of payments in yuan increased by more than 15.6% in November; Frank Media writes, citing the monthly bulletin of the SWIFT system. The volume of payments in other currencies rose by only 3.9% over the month. This also affects the Chinese yuan to USD exchange rate.

The Chinese currency keeps its position as the fifth currency for global payments with a share of 2.37%. Against this background, the US dollar to Chinese yuan is starting to lose ground. By international payments, excluding payments within the euro area, the yuan was in 6th place with a share of 1.63% in November 2022. At the same time, traders and investors are watching closely how this will affect the current value of the Euro / U.S. Dollar.

The euro’s share of international settlements returned to 36% after a prolonged decline; the U.S. dollar’s share was 41.4%, down slightly for the month from 42%. Both currencies continue to lead in the world of global settlements. The British pound, which remained in third place in the ranking of currencies for global settlements, saw its share shrink from 7.85% to 7.09%.

Earlier we reported that the dollar is weakening against the euro, yen and pound.