Another indication of the sense behind Moody’s downgrading China’s debt one notch from Aa3 to A1 China’s global ranking was shown by how SWIFT’s RMB Tracker monthly reporting and statistics on renminbi (RMB) showed that the progress to becoming an international currency is in reverse. 

April 2017 share

In April 2017, the RMB fell to position seven as global payments currency by value with a share of 1.60%:

Source & Copyright©2017 - SWIFT Watch

The Renminbi is now trailing the Swiss franc, with a minor gap between the two currencies. 

Global decline in value of trade on SWIFT network

The SWIFT RMB Tracker showed that in April 2017 by value: all payments currencies decreased by 15.76% and that  RMB payments value decreased even more by 24.24% compared to March 2017.