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Yuan becomes world’s second main currency in trade settlements via SWIFT


Oktober, 18 2023
watermark Economic news

The share of the yuan in international settlements within the SWIFT system showed impressive growth, increasing from 4.82% in August to 5.8% in September. This indicator has become the highest in the last five years, during which statistics are kept. 


It is important to note that during this period, the yuan overtook the euro and for the first time became the second main currency in world trade settlements among SWIFT countries. 


The dollar still holds the first place, accounting for 84.15% of the total volume of international settlements in September, which is slightly more than 83.95% in August. Since December last year, the «American» has been consistently below 85%, which has not happened since the beginning of 2018.


The third place in the rating of currencies is occupied by the euro – its share in the calculations was 5.43% in September. In August, the indicator was at the level of 6.43%


The yuan is followed by the Japanese yen, with a share of 1.4%, followed by the Saudi rial, whose share decreased from 0.63% in August to 0.56% in September.


The yuan's share in international settlements outside SWIFT in September reached a record 3.71%, increasing by 0.24 percentage points. The dollar's share for the month decreased by 1.45 percentage points to 46.58%, and the euro strengthened its position – its share increased by 0.38 percentage points to 23.6%.


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Foreign exchange bersifat sangat spekulatif dan kompleks, dan mungkin tidak cocok untuk semua investor. Trading forex dapat menghasilkan keuntungan atau kerugian besar. Karena itu, tidak disarankan menginvestasikan uang yang anda tidak mampu kehilangannya. Sebelum menggunakan layanan yang ditawarkan oleh ForexMart, harap akui risiko yang terkait dengan trading forex. Minta saran finansial independen jika perlu. Harap perhatikan bahwa baik kinerja masa lalu atau perkiraan tidak merupakan indikator yang dapat diandalkan untuk hasil di masa mendatang.