| China's yuan overtook the euro to become the second-most used currency in global trade finance in 2013, according to the Society for Worldwide Interbank Financial Telecommunication.
The currency had an 8.66% share of letters of credit and collections in October, compared with 6.64% for the euro, Swift said in a statement on Tuesday. China, Hong Kong, Singapore, Germany and Australia were the top users of yuan in trade finance, according to the Belgiumbased financial-messaging platform..............................................Full Article: Source
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