Chinese Yuan Was World's Third-Largest Trading Currency in December, PBOC Says
Yicai Global
/SOURCE : Yicai
Chinese Yuan Was World's Third-Largest Trading Currency in December, PBOC Says

(Yicai Global) Aug. 11 -- The Chinese yuan was the world's third-largest trading currency last December as the yuan becomes an increasingly accepted international legal tender.

Yuan cross-border investment and financing channels will continue to expand and bilateral currency cooperation will proceed steadily, the People's Bank of China announced in a 2016 Report on Yuan Internationalization.

Cross-border use of the Chinese yuan through current accounts will further expand, and the holding of the yuan as a reserve currency will also continue to grow.

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