The share of euro usage in SWIFT payments fell to the lowest level in three years
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The use of the euro for international payments in April fell to a record low in three years, reports Bloomberg with reference to SWIFT data. The share of cross-border transactions in euro fell to 31.74% of the total.
The dollar accounted for 42.71% in April (against 41.74% in March). The publication notes that the share of the US currency continues to grow after collapse several American creditors and fears related with Credit Suisse Group AG. Euro, despite the fall, remains the second currency for payments in SWIFT.
Outside the dollar and the euro, about a quarter of the total number of transactions takes place. Here the leaders are the pound sterling (6.58%), the yen (3.51%), the yuan (2.29%) and the Canadian dollar (2.20%).
About how Russian business manages without SWIFT – in the material “Kommersant FM” “Soft currencies pushed the dollar”.
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