Usage of Chinese currency renminbi (RMB), also known as the yuan, in cross-border transactions declined in September compared with August as RMB's global payment market share dropped, according to the Bank of China Cross-border RMB Index (CRI) released on Tuesday.
The CRI, an indicator tracking RMB-based activities in cross-border transactions, stood at 310 in September, down from 321 in August, according to a report issued along with the CRI. The report said yuan was expected to evolve from payment currency to investment and reserve currency following the announcement that it was included in the SDR basket.
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