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The impact of the Russian-Ukrainian crisis on the euro's global payment currency ranking begins to diminish


The Society for Worldwide Interbank Financial Telecommunication (SWIFT) released its ranking of global payment currencies for May. In this ranking list, the US dollar accounted for 41.13%, a slight decrease of 0.68 percentage points from the previous month, the third consecutive level above 40%, and continued to be the payment currency with the highest proportion in the world. The second-ranked euro's share unexpectedly rose by 1.37 percentage points to 36.11%, staying above the 10-year average of about 34.89%, and its share with the dollar narrowed by 5.02 percentage points. The pound in third place remained at 6.26%. The yen fell sharply to 2.71% from the previous value of 3.08%, occupying the fourth place. As for the proportion of RMB, it rose slightly by 0.01 percentage points to 2.15%, ranking fifth. But it is still higher than the sixth-ranked Canadian dollar, accounting for 1.71%. SWIFT data may reflect that the impact of the Russian-Ukrainian crisis on the euro's international status seems to have eased.
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