Most Used Currencies in the World: SWIFT Data
The latest data from the international payment messaging system SWIFT shows that the US dollar is the most used currency in the world for cross-border transactions. The total transaction value in the US dollar stood at 60.08% as of December 2024. The Euro comes at a distant second at 12.83% indicating that the dollar’s dominance is here to stay. The other leading currencies are in single digits and stand no chance in challenging the US dollar. Also Read: Cardano (ADA) Predicted To Rally 118%, Hit $1.64: Here’s When Source: statista.com The US dollar makes up a significant part of the global transactions in the SWIFT payment system. Currencies like the Japanese yen take 5.09%, while the Chinese yuan, which is looking to uproot the US dollar’s global dominance stands at 2.8%. The data indicates that the Chinese yuan has a herculean task to take on the USD as its usage is minimal. Despite spearheading the de-dollarization agenda, the Chinese yuan is yet to become the most accep...