Euro tops dollar as payments currency for first time since 2013

The Euro was the most used currency for global payments last month, the first time it has outpaced the dollar since February 2013, Report says, citing SWIFT payment system.

In July 2013, the share of Euro transactions in the international payments was 37.5%, while the dollar - 36.14%, but already in August, the dollar regained leadership, reaching 40.14%.

Though the Euro did not manage to reach the previous indicators: by the end of October 2020, its share was 37.82%, and the dollar - 37.64%.

SWIFT is an international interbank system of information transmission and payment improvements. More than 11 thousand of the largest organizations are connected to it in about 200 countries.