17.09.2013 - Trading in Chinese yuan soars
The world's second-biggest economy has had its currency promoted to the most-traded currency club. The Chinese yuan is now traded three more times on global markets compared to its popularity in 2010, according to a new survey from the Bank for International Settlements. How significant is the news for China - and the rest of us? Back in 2010 the BIS estimates that $34bn of Chinese yuan was traded every day. That figure now ticks closer to $120bn, propelling the yuan from 17th place to ninth place in 2013, kicking out the Swedish krona from the top ten en route...............................................Full Article: Source
Print