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United Arab Emirates Shows Stellar Growth In RMB Adoption - Special Edition Of SWIFTâs RMB Tracker For Sibos 2016 Shows New Frontiers For RMB Internationalisation In Europe, Middle East And Africa (EMEA)

Data from SWIFT’s latest RMB Tracker shows exceptional growth in RMB adoption in the United Arab Emirates (UAE) witnessing a 210.8% growth in payments value of the currency since August 2014, albeit from a low base. More than 80% of the direct payments made between the UAE and China/Hong Kong in August 2016 were in CNY, representing one of the highest increases worldwide.

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