RMB now second most used payments currency between China and Japan
China's currency eclipses US and Hong Kong dollars while yen retains number one spot
The renminbi has emerged as the second most used currency for transactions between Japan on one hand, and China and Hong Kong on the other, more than doubling its share of payments in two years.
The Chinese currency now accounts for 7% of payments between China/Hong Kong and Japan, compared to 3% two years ago, according to Swift. It thereby surpasses both the Hong Kong dollar and the US dollar.
"Although the Japanese yen retains its top position as the number one currency used for payments
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