Treasury Today Country Profiles in association with Citi

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Redback rising: RMB trade invoicing gaining traction

Ann Lin Khoo and Tracy Ge, Citi

According to the latest SWIFT tracker, renminbi (RMB) has advanced to the fifth most widely used currency for global payments. With the value of cross-border deals settled in the redback more than doubling in 2014, it is not surprising that more multinational companies are choosing to invoice in RMB as they look to improve profit margins.

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