RMB remains 5th most active currency by value in December

The Chinese currency renminbi (RMB), or the yuan, remained the fifth most active currency for global payments by value in December 2022, a report has shown.

The RMB's global share stood at 2.15% last month, according to the Society for Worldwide Interbank Financial Telecommunication, a global provider of financial messaging services.

In terms of international payments excluding the eurozone, the RMB ranked seventh with a share of 1.47%.

China's Hong Kong Special Administrative Region is the largest market for offshore RMB transactions, taking up 73.85%, followed by Britain, Singapore, and the United States, according to the report.