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Yuan ranked 7th "most used" currency in January

English.news.cn   2014-02-28 18:53:44

BEIJING, Feb. 28 (Xinhuanet) -- The Chinese yuan became the seventh most used currency in January, surpassing the Swiss franc. That's according to global transaction services organization SWIFT.

The yuan now claims 1.39 percent of market share after payments increased 30.6 percent last month. Still, the transactions remain heavily lopsided as Hong Kong has clinched a market share of 73 percent, followed by the UK, Singapore, Taiwan, the United States, France and Australia.

The yuan has overtaken 22 currencies during the past three years, including the Singapore and Hong Kong dollars.

The Chinese government has steadfastly promoted the yuan, notably clarifying details last week for cross-border yuan transactions in the Shanghai free trade zone.

(Source: CNTV.cn)

Editor: Lu Hui
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