Economics

Luxembourg rises in the ranks as international renminbi centre

Luxembourg payments value of Chinese currency renminbi (RMB) jumped by 86 percent over the last 12 months, a sign that the Grand Duchy is building its presence as a “leading international renminbi centre.”

28.08.2013

(CS) Luxembourg payments value of Chinese currency renminbi (RMB) jumped by 86 percent over the last 12 months, a sign that the Grand Duchy is building its presence as a “leading international renminbi centre.”

The monthly tracker by the Society for Worldwide Interbank Financial Telecommunication (SWIFT) placed Luxembourg second in Europe and eighth worldwide for RMB payments value in July.