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SWIFT RMB Monthly Tracker (March 2014)

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The RMB tracker provides a reporting on key statistics, to understand the progress made in China's Renminbi (RMB) towards becoming an international currency.
It is provided for free on a monthly basis by SWIFT.

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SWIFT RMB Monthly Tracker (March 2014)

  1. 1. RMB Tracker March 2014
  2. 2. RMB Tracker – What is it? Monthly reporting and statistics on renminbi (RMB) progress towards becoming an international currency. 2
  3. 3. March RMB Tracker: 3Source: SWIFT Watch • Australia’s RMB payments value increased by 248% between February 2013 and February 2014 • In February 2014, 14.2% of payments between Australia and China/Hong Kong were in RMB • With the recent announcement of ASX and Bank of China to establish a RMB Settlement Service in July 2014, Australian companies trading with China will be able to pay and receive RMB for cross-border transactions just as they do with the Australian dollar • In February 2014, the RMB fell back behind the Swiss Franc by just 0.03 percentage points as eighth-ranked global payment currency, despite a record-high activity share for the RMB globally of 1.42% • At global level, RMB payments decreased in value by 8.5% in February 2014 compared to January 2014
  4. 4. + 248% compared to Feb-13 Feb-12 Feb-13 Feb-14 1.9% 7.7% 14.2% Weight of payments value in RMB sent and received with China and Hong Kong Source: SWIFT Watch Australia ranked #6 in RMB payments (excluding China and Hong Kong) 2% 98% Institutional Transfers Customer payments Split RMB payments value in Feb-14 sent and received with the rest of the world Payments value evolution sent and received with the rest of the world
  5. 5. Source: SWIFT Watch RMB as world payments currency in value Customer initiated and institutional payments. Inbound + Outbound traffic. Based on value.
  6. 6. RMB payments evolution Customer initiated and institutional payments. Inbound + Outbound traffic. Based on value. Source: SWIFT Watch
  7. 7. Want to know more? SWIFT enables YOU to gain unique insights at any time on the RMB progresses in becoming an international currency: - Market intelligence - Your financial institution activity - Your activity share and/or peer benchmark 7 Business Intelligence Transaction Banking #SWIFTBI Key resources for more information: - RMB Package - Business Intelligence solutions

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