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Yuan Tops Yen in Share of Global Currency Payments, Swift Says
The Chinese yuan overtook the yen as the currency with the fourth-largest share in international payments in November for the first time since early 2022, according to transaction data compiled by global financial messaging service Swift. Trades involving yuan, as a share of all currencies, rose to 4.6% last month from 3.6% in October. It was the most on record for the yuan and topped the yen’s 3.4%. The yuan last held the fourth spot in the rankings in January 2022. The US dollar maintained the helm in November with 47%, followed by the euro and pound, with 23% and 7.15%, respectively. Swift, or the Society for ... (full story)
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- Posted: Dec 21, 2023 1:38pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 3,464
