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Mentioned in this Article

FM Edition:

65% is the increase in use in SA of the Chinese currency, the renminbi, over the past 12 months, as trade relations with China and Hong Kong strengthened. A renminbi clearing centre was established in SA in July 2015.

112% is the increase in renminbi use over two years.

24 is SA’s ranking across the globe as a user of renminbi, up from 30 two years ago.

5 is renminbi’s ranking as an international payment currency, behind the US dollar, euro, pound and yen.

34% is the share of SA’s renminbi payments used for business with Singapore, up from just 7% a year ago.

23.6% is the share of offshore renminbi payments originating from the UK, the largest in the world and more than double the US’s 10. 5% . Other big renminbi users are Singapore (19. 8%) and Taiwan (11.6%).

2.4% is the proportion of payments between the US and China/Hong Kong in renminbi. A total 95. 5% is denominated in US dollars, and 1. 5% in Hong Kong dollars.

0.68% is the decrease in renminbi payments on Swift from June to July 2016. P ayments overall fell by 10.1%.

Swift renminbi tracker