2024-04-24 17:14:24
The share of the yuan in settlements through the international SWIFT system in March reached a historical record of 4.69% after a decline in February, according to system data reviewed by TASS, Day.Az reports.
The highest share of Chinese currency in payments via SWIFT was recorded in November 2023, when it rose to 4.61%.
At the same time, the share of the euro in March decreased to 21.93% from February levels of 23.25%. The dollar continues to be the most popular currency for international payments, increasing its share in March to 47.37% from 46.56% in February.
Also traditionally, the British pound has entered the top three in international payments. Its share in March was 6.57%, down slightly from February levels of 6.9%.
SWIFT is an international interbank system for transmitting information and making payments. About 10 thousand financial institutions in more than 200 countries of the world are connected to it. After the introduction of sanctions, SWIFT ceased to be the main channel for Russia, where the main exchange takes place through the Financial Message Transmission System of the Central Bank of the Russian Federation (SPFS, the Russian analogue of SWIFT), which by the end of 2023 has 556 participants from 20 countries.