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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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RMB Tracker July 2014
RMB Tracker – What is it?
Monthly reporting and
statistics on renminbi
(RMB) progress
towards becoming an
international currency.
2
July RMB Tracker:
3 Source: SWIFT Watch
• South Korea’s RMB payments value increased
by 563% between June 2013 and June 2014,
making South Korea number eight in the world
for RMB payments value, excluding China and
Hong Kong.
• “The announcement by South Korea and
China in early July to set up a new RMB
clearing centre in Seoul will further benefit the
trading activities between the two countries.
• In June 2014, 68.9% of all direct payments
between South Korea and China/Hong Kong
were in RMB, up from 32.8% in June 2013.
• RMB reinforced its position as the seventh
most active currency for global payments and
accounted for 1.55% of payments worldwide.
South Korea cracks the top
10 in RMB payments
Top 10 offshore RMB centres in the world Payments value sent and received, excluding China and Hong Kong
Weight of RMB Payments value Flows sent and received by South Korea with China and Hong Kong
Source: SWIFT Watch
RMB as world payments currency in value
Customer initiated and institutional payments. Inbound + Outbound traffic. Based on value.
RMB payments evolution
Customer initiated and institutional payments. Inbound + Outbound traffic. Based on value.
71%
3%
26%
Jan-
14
72%
3%
25%
Mar-
14
3%
25%
Feb-
14
72%
3%
25%
73%
3%
24%
Dec-
13
74%
4%
22%
Nov-
13
74%
4%
22%
Oct-
13
75%
4%
21%
Sep-
13
76%
4%
20%
Aug-
13
77%
4%
19%
Jul-
13
78%
4%
19%
Jun-
13
78%
4%
18%
May-
13
78%
4%
19%
Apr-
13
79%
4%
17%
Mar-
13
79%
4%
17%
Feb-
13
79%
4%
17%
Jan-
13
Apr-
14
May-
14
72%
79%
5%
16%
Dec-
12
79%
5%
16%
Nov-
12
80%
5%
15%
Oct-
12
79%
6%
15%
Sep-
12
80%
5% 15%
Aug-
12
80%
6%
14%
Jul-
12
80%
6%
14%
Jun-
12
81%
5%
14%
May-
12
79%
7%
14%
Apr-
12
78%
8%
14%
Mar-
12
80%
7%
14%
Feb-
12
79%
7%
14%
Jan-
12
78%
8%
14%
Jun-
14
26%
3%
71%
Source: SWIFT Watch
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