RMB's global payment share up in July

The Chinese currency renminbi (RMB), or the yuan, saw its share in global payments rise from 2.17 percent in June to 2.2 percent last month, the Society for Worldwide Interbank Financial Telecommunication (SWIFT) said Thursday in a monthly report.

RMB has retained its position as the fifth most active currency for global payments by value, according to the report.

While the payments of all currencies, in general, fell 7.87 percent in July from a month ago, RMB payments value decreased by 6.7 percent.

In terms of international payments excluding those within the Eurozone, the RMB ranked sixth with a share of 1.51 percent.