The yuan kept its ranking as the world’s eighth most-traded currency, with a daily average turnover of US$284 billion, up from US$202 billion three years ago, according to the Bank for International Settlements (BIS) triennial survey of foreign exchange, indicating that it is evolving into an international currency very slowly. Photo: AFP

China’s yuan makes little progress to dethrone the US dollar as global currency, survey finds

  • Yuan’s share of international currency transactions only 4.3 per cent, compared to 88 per cent for US dollar, Bank for International Settlements finds
  • Foreign exchange trading activity rises to eighth place globally, with London still at top of rankings
Topic |   China economy
The yuan kept its ranking as the world’s eighth most-traded currency, with a daily average turnover of US$284 billion, up from US$202 billion three years ago, according to the Bank for International Settlements (BIS) triennial survey of foreign exchange, indicating that it is evolving into an international currency very slowly. Photo: AFP
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