The US dollar is the most used currency in global trade, followed by the euro and the renminbi. Economic factors and government policies influence which currency is used for trade. The US dollar is dominant in trade with the US and euro area due to pricing strategies and supply chains. The renminbi's role is growing, partly due to China's trade integration and currency swap agreements. China's efforts have increased the use of the renminbi, reducing the dominance of the US dollar in some cases.