Chinese Yuan becomes the fourth work more actively traded in the world

October 8th, 2015 10:53 am

Association data showed the global financial communication between banks "swift" the Chinese currency "Yuan" has become the fourth most actively traded currency in foreign exchange during the month of August.

And swift reports that the last week of August saw a notable increase in the Chinese currency, due to concerns about the Chinese economy and the Chinese authorities to reduce the value of the Yuan.

The Yuan was traded at global payments last August by 2.8%, compared to 44.8% for USD, euro 27.2, 8.5% for the pound sterling.

And used in more than 100 countries worldwide Yuan payment, about 90% of global payments with RMB in 10 countries, with Singapore from these payments 24.4%, United Kingdom approximately 21.6%.

While in August 2012, Chinese currency came in 12th place in the list of swift, where data show that RMB trading in global payments was much less than the us dollar, the euro and the pound sterling.

Swift believes that the drop in the value of the Chinese currency was probably one of the factors that enhanced global market Yuan, RMB transactions last August by 20% compared with the previous month.

China's Central Bank had been cut earlier, the value of the Yuan to its lowest level against the us dollar for nearly three years, the move comes in the wake of a series of weak economic data from the world's second-largest economy.

Then the central action raised fears of war, global currencies, amid accusations Beijing by giving an unfair advantage to exporters.