The Chinese currency has topped the Japanese yen in international transactions, according to data The Chinese yuan has risen to become the fourth most active currency for global payments by value in November 2023, the latest transaction data compiled by global financial messaging service SWIFT has shown. According to the report issued this week, the renminbi was used in 4.61% of transactions, climbing from 3.60% in October and overtaking the Japanese yen’s share, which slipped to 3.41% from 3.91%. Overall, the value of renminbi payments increased by 34.87% compared to October. In annual terms, the yuan’s global sh
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