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    (OP)inions Popular yuan

    Abstract:Popular yuan

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    January 24, 2022 

    The Chinese yuan continues to rise as one of the most-popular currencies for cross-border payments, notching the fourth spot for the first time since August 2015.  

     

    Activity in the renminbi, as the currency is also called, rose to its second-highest level ever. 

    While the Chinese currency made inroads in the rankings, the yuan accounted for about 2.7% of the market versus the dollar at 41%. 

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    The yuan has seen its popularity as an international currency rise in the last decade. 

    Global funds boosted holdings of Chinese government bonds to a record last month, data show. 

    The renminbi was ranked 35th in October 2010 when Swift, which handles cross-border payment messages for more than 11,000 financial institutions in 200 countries, started tracking. 

     

    OnePro Special Analyst

     

    Buy or sell or copy trade crypto CFDs atwww.OneProglobal.com

     


    The foregoing is a personal opinion only and does not represent any opinion of OnePro Global, nor is there any guarantee of reliability, accuracy or originality in the foregoing.

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