China Yuan overtakes yen

China's Yuan has overtaken the Japanese yen and moved into fourth place among the world's payments currencies, as Beijing pushes greater international use of its currency. The Yuan, also known as the Renminbi, held a 2.79 per cent share in world payments based on value in August, besting the yen's 2.76 per cent. The yen's position eroded to fifth place.

China’s Yuan has overtaken the Japanese yen and moved into fourth place among the world’s payments currencies, as Beijing pushes greater international use of its currency.

The Yuan, also known as the Renminbi, held a 2.79 per cent share in world payments based on value in August, besting the yen’s 2.76 per cent. The yen’s position eroded to fifth place.

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