Renminbi's international profile dips to near four-year low

The renminbi's share of international transactions fell in October to the lowest levels seen since April 2014 according to data from global payments firm SWIFT.

China's currency accounted for only 1.46% of international transactions through SWIFT's payment messaging network in October, down from 1.85% in the prior month - its lowest profile among global currencies in more than three-and-a-half years.

Lower than the loonie

This measure of the renminbi's international prominence put it in seventh place on SWIFT's international transactions by currency and lower in profile than the Canadian dollar, with a 1.6% share of global payments, and sitting just above the Australian dollar with 1.43%.

At the top of the list of international transactions was the dollar, with its share edging 0.3 percentage points lower to 39.47%. Next came the euro, gaining nearly a percentage point to 33.98%.

Taking the third, fourth and fifth slots were sterling with 7.71%, the Japanese yen with 2.92% and the Swiss franc with 1.63%.