Yuan took fourth place among the most popular currencies

Almaty. October 7. Silkroadnews - The Chinese yuan took fourth place among most popular currencies, reported the newspaper "Vedomosti".
"Despite the unexpected devaluation in August and fears over a slowdown in China's economy, according to the settlement system SWIFT, in August the renminbi had 2.79% of global payments in terms of value, and the yen - 2.76%. In July, the share of RMB was 2.34%",- says the publication.
So now it is fourth in popularity after the US dollar, euro and pound sterling. According to SWIFT, 36% of the banks involved in payment processing in China and Hong Kong, use the yuan for some transactions.
In August 2012 the Chinese currency was the 12th largest in the world, while its share was 0.84%. But since then, it began to be used more often than the Hong Kong dollar, Swiss franc, Canadian dollar and other currencies.
The main center for processing payments in RMB outside the Mainland of China is Hong Kong, through which proceeds 70.4% of payments. It is followed by Singapore, and London, their share is 24.5 and 21.6%, respectively (the total amount of payments equal to 200% because each involves two countries).
In addition, according to SWIFT, in the Asia-Pacific region, the yuan has become a major currency for cross-border payments, which involve China and Hong Kong. So, in July up to 84% of payments between any of them and South Korea used the Chinese currency.
However, the use of the yuan for investment is minimal, it is mainly used in commercial calculations. According to the National Bank of China, in the first six months, payments in RMB to China and from China totaled to 5.7 trillion yuan ($900 billion) - more than a quarter of the volume of trade in goods.