Yuan again became the fifth settlement currency in the world

Almaty. May 21. Silkroadnews - The Bank of China issued RMB transborder index (CRI) for March 2015, according to which, Yuan again became the fifth settlement currency in the world, informed the newspaper "People's Daily".
So, in February of this year the share of RMB settlement payments across the world amounted to 1.81% of the global total, moved from fifth to seventh place in the world. The main reason for the decline in the ranking became seasonal factors in the period of the New Year according to the lunar calendar, corresponding external payment transactions in yuan slightly fell.
Offshore clearing in RMB rose by 33%. In the Middle East and Latin America, growth in yuan settlement is even more noticeable.
Clearing in RMB in the Middle East increased by 136% compared to the previous month, the scope and limits of the use of offshore yuan is constantly expanding.
In addition, the proportion of the use of RMB in cross-border transactions in the total share of capital flows gradually increased. In the first three months of this year, this figure rose by five percentage points compared with the end of 2014. In the future, following the increase of free use of the yuan, settlements in yuan will play an increasingly active role.