RMB international settlement scale increased by 15%

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According to Business News International, Kommersant cited a report by the Society for Worldwide Interbank Financial Telecommunication (SWIFT) as saying RMB international settlement rose 15.6 percent, compared with a 19.86 per cent increase in October.

International settlements in other currencies grew by 3.9 percent in the latest month, the report said.

RMB maintained the fifth most active currency for international payments, accounting for 2.37%. In November 2022, the RMB ranked sixth in terms of international payments outside the euro area, accounting for 1.63%.

Earlier on December 1, 2022, the Bank of Russia announced that the share of RMB trading volume in total foreign exchange transactions on Russian exchanges rose from 3% in March to 33% in November.