China’s yuan was the fourth most used currency for global payments last month, surpassing Japan’s yen for the first time in nearly two years, the Financial Times reported.
Figures released by international payments platform Swift showed the renminbi’s share of global payments had risen to 4.6% in November, up from 3.6% a month before, to put the Chinese currency just behind the UK pound, euro and US dollar.
The yuan has been among the worst-performing global currencies this year, though, falling about 3.5% against the dollar in the face of slow Chinese growth and worries over the country’s property sector.
Read the full story: The Financial Times
- By Sean O’Meara
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