Dollar’s share up in international payments, Euro Down
Meanwhile, the euro’s share dropped to a record low level standing at 24.42%
The share of the dollar in international payments rose from 42% to 46.46% in July 2023, reaching record highs of the past five years when statistics was collected, according to SWIFT international system data.
Meanwhile, the euro’s share dropped to a record low level since records started as it equaled 24.42% in July compared to 31.25% in June.
The pound sterling was the third in the rating of the most popular currencies for international payments, with its share increasing from 6.88% in June to 7.63% in July, followed by the yen (up from 3.36% to 3.51%) and the yuan (up from 2.77% to 3.06%).
India too has made an entry with use of rupee towards payment of international trade with UAE .
