May. 14 at 4:06 PM
$BIDU $BABA 200$. CN up and rising. While the US dollar retained its dominant role in trade in March, the renminbi rose one spot to become the fifth most active currency for global payments by value, accounting for 3.1 per cent, according to data from financial messaging service Swift, or the Society for Worldwide Interbank Financial Telecommunication.
China’s cross-border interbank payment system, known as CIPS, also registered a single-day transaction record of 1.22 trillion yuan, Shanghai Securities News reported in early April.
