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Chinese yuan remains fifth most used currency

In November, the yuan remained the fifth most-used currency in the world, behind the US dollar, the euro and the pound, and was just behind the yen, which was number four. That month, use of the yuan jumped to 2.37 percent of global payments, up from 2.13 percent in October. This mean it remained the fifth most active currency, according to data from global payment services provider Society for Worldwide Interbank Financial Telecommunication (SWIFT).

This reflects the steady progress in the yuan's internationalization, the growing appeal of the yuan in global payments and settlements and bullish views on the long-term development momentum of China's economy.


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