The Asian Banker

US corporates stand to gain through participation in Rmb payments
Renminbi payments recorded continued growth in the UK and Singapore, but tapered off in the US due to persistence with payments in USD.

Jan 29, 2013 | Magessan Raj

SWIFT’s January 2013 tracker showed that renminbi adoption by the US has proven disappointing thus far, and throughout 2012, pick-up of the Chinese currency was generally flat, with year-end figures trending downwards, pointing towards a major decline. From November to December 2012, the US experienced a 38% decrease in renminbi payments, dropping it three positions to sixth place in offshore renminbi countries. Luxembourg, together with the UK, Singapore, Australia, and France currently form the top five renminbi offshore countries. Renminbi payments tapers off in the US Figure…

Please login to read the complete article. If you already have an account, you can login now or subscribe/register.

Categories: China, Payments, Rmb, Transaction Banking
Keywords: SWIFT, Lisa O’Connor, James Will, Alfred Nader, Western Union
Add a new comment:

Allowed tags: <b><i><br>

Comments (0)

Show Less
About us | Jobs and Internships with us | Contact us | Advertise with Us | | Privacy Policy | Copyrights Requests | Legal Notice | Feedback
RSS FeedRSS Feed | Follow us on Linkedin Twitter Facebook
Copyright 2014, The Asian Banker. All Rights Reserved .