China’s currency has overtaken the Japanese Yen and is now the fourth most used for global payments worldwide, as the nation ramps up its international payments system, bolstering the view the Asian nation’s currency is on a path to ultimately compete with the U.S. dollar for the mantle of world reserve currency of choice.
Swift move from 12th place to 4th for Chinese yuan
The Chinese yuan, which ranked as the 12th most popular currency for international trade in 2012, has jumped in popularity and is now the fourth most popular currency for trade, the Society for Worldwide Interbank Financial Telecommunication (SWIFT)
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