Beijing’s curbs on capital outflows and a decline in RMB-denominated letters of credit had led to a usage drop in the RMB as an international payment currency, according to SWIFT. Photo: Reuters

Renminbi’s share as international payment currency drops for second month in September: SWIFT

The agency cites Beijing’s measures to curb capital outflows and a decline in RMB deposits in offshore centres as factors

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Beijing’s curbs on capital outflows and a decline in RMB-denominated letters of credit had led to a usage drop in the RMB as an international payment currency, according to SWIFT. Photo: Reuters
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