Hong Kong remains the world’s largest offshore renminbi (RMB) payments, processing 80% of all RMB payments according to date from SWIFT.
Although nearly 100 countries had RMB payments with Hong Kong and China in September 2012, 90% is concentrated in 10 countries; the UK has a 28% share (25% in January 2012) followed by Singapore with 26% (34% in January 2012).
Overall, RMB payments declined by 7.4 % compared to August 2012, whereas all currencies declined by 4.3%. The RMB remains its 14th position in the ranks of world payments currencies, with a share of 0.51% against 0.53% in August 2012.
Data from S&P Global Market Intelligence suggest that the German lender is struggling to meet capital and earnings figures.
Global digital payment volumes are set to reach 426.3bin transactions in 2015, according to the World Payments Report 2016 fromCapgemini and BNP Paribas.
The T+2 Industry Steering Committee (T+2 ISC) has welcomed recent action by the Securities and Exchange Commission (SEC) to propose a rule ... read more
Data from Swift’s latest RMB tracker shows exceptional growth in RMB adoption in the United Arab Emirates (UAE), witnessing a 210.8% growth in payments value of the currency since August 2014, albeit from a low base.