Russia placed third among the nations and areas that used the Chinese yuan in international transfers in July, according to a Forbes article citing SWIFT data.
Forbes claims that in just the last three months, Russia’s market share of the yuan climbed by 6. 3 times.
Swift financial transaction data shows that the number of yuan transactions in Russia increased to 3.9 in July from 1.42 in June, while the rate in the United Kingdom was higher at 6.35.
With 70. 93 yuan transactions in July, up from 73. 82 in June 2022, Hong Kong continues to lead the list.
Singapore comes in at 3. 77 on the Swift scale, followed by the United States at 2. 98.
When it comes to yuan consumption, Russia is third in the world.
About Author
