30.12.2024, 09:52
The euro topped the ranking of currencies whose share in SWIFT payments decreased
Source: OREANDA-NEWS
OREANDA-NEWS The euro topped the ranking of currencies, whose share in international settlements through the SWIFT interbank system has decreased most noticeably in just 10 years, RIA Novosti calculated, comparing the system's data for November of last year and 2014.
The largest international financial information transmission system discloses data on the shares of twenty currencies used by its participants. According to the system, the share of the European currency decreased the most compared to the fall of 2014 - by 6.83 percentage points at once, its share in international settlements through the system in November was 22.29%. At the same time, half of the currencies studied showed negative dynamics, but the decline there was not so noticeable.
Thus, the share of the pound sterling decreased over 10 years by 0.86 percentage points, to 7.27%, and the Swiss franc - by 0.42 percentage points, to 0.96%. The Australian dollar sank by 0.29 percentage points to 1.69%, the South African rand by 0.2 percentage points to 0.28%.
At the same time, the share of the system's participants using a number of currencies has hardly changed over the past 10 years. Among them were, for example, the Norwegian krone (a decrease of 0.16 percentage points, to 0.64%), the Polish zloty (an increase of 0.13 percentage points, to 0.73%) and the Philippine peso (an increase of 0.16 percentage points, to 0.27%). The decrease in the "weight" in international payments of the Mexican peso, Thai baht, Danish and Swedish krona, as well as the New Zealand dollar amounted to less than 0.1 percentage points.
In addition to those mentioned, the shares of seven other currencies showed positive dynamics. These are the Malaysian ringgit (an increase of 0.2 percentage points, to 0.24%), the Hong Kong dollar (by 0.52 percentage points, to 1.68%), the yen (an increase of 0.56 percentage points, to 3.44%) and the Singapore dollar (with the same dynamics, to 1.49%).
The currencies whose demand has grown most noticeably over the past decade include the Canadian dollar (up 0.76 percentage points to 2.61%) and the yuan (up 1.82 percentage points to 3.89). And the leader was the US dollar, which showed a positive trend of 4.68 percentage points and in November took a share of 47.68% in the calculations in the system.
There is nothing surprising in the growth of the dollar's share in SWIFT, and this certainly does not indicate an increase in the attractiveness of the American currency, independent industry expert Leonid Khazanov believes.
"Rather, on the contrary, it shows that there are countries that do well without SWIFT, primarily Russia and Iran. In addition, individual states are developing and using their own transaction systems, and Russian businesses can also use them to make transactions. Therefore, an increase in the share of the dollar in payments via SWIFT indicates a decrease in the popularity of both of them," the expert concluded.
The largest international financial information transmission system discloses data on the shares of twenty currencies used by its participants. According to the system, the share of the European currency decreased the most compared to the fall of 2014 - by 6.83 percentage points at once, its share in international settlements through the system in November was 22.29%. At the same time, half of the currencies studied showed negative dynamics, but the decline there was not so noticeable.
Thus, the share of the pound sterling decreased over 10 years by 0.86 percentage points, to 7.27%, and the Swiss franc - by 0.42 percentage points, to 0.96%. The Australian dollar sank by 0.29 percentage points to 1.69%, the South African rand by 0.2 percentage points to 0.28%.
At the same time, the share of the system's participants using a number of currencies has hardly changed over the past 10 years. Among them were, for example, the Norwegian krone (a decrease of 0.16 percentage points, to 0.64%), the Polish zloty (an increase of 0.13 percentage points, to 0.73%) and the Philippine peso (an increase of 0.16 percentage points, to 0.27%). The decrease in the "weight" in international payments of the Mexican peso, Thai baht, Danish and Swedish krona, as well as the New Zealand dollar amounted to less than 0.1 percentage points.
In addition to those mentioned, the shares of seven other currencies showed positive dynamics. These are the Malaysian ringgit (an increase of 0.2 percentage points, to 0.24%), the Hong Kong dollar (by 0.52 percentage points, to 1.68%), the yen (an increase of 0.56 percentage points, to 3.44%) and the Singapore dollar (with the same dynamics, to 1.49%).
The currencies whose demand has grown most noticeably over the past decade include the Canadian dollar (up 0.76 percentage points to 2.61%) and the yuan (up 1.82 percentage points to 3.89). And the leader was the US dollar, which showed a positive trend of 4.68 percentage points and in November took a share of 47.68% in the calculations in the system.
There is nothing surprising in the growth of the dollar's share in SWIFT, and this certainly does not indicate an increase in the attractiveness of the American currency, independent industry expert Leonid Khazanov believes.
"Rather, on the contrary, it shows that there are countries that do well without SWIFT, primarily Russia and Iran. In addition, individual states are developing and using their own transaction systems, and Russian businesses can also use them to make transactions. Therefore, an increase in the share of the dollar in payments via SWIFT indicates a decrease in the popularity of both of them," the expert concluded.
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