The Chinese yuan has leaped over the Australian, Canadian and Swiss currencies to become the fifth most traded currency in the world, according to the Bank for International Settlements (BIS).
The Chinese currency was involved in 7% of all trades in 2022, compared with 4% three years ago, the Basel-based BIS said in its triennial Central Bank Survey report on Thursday. Total daily trades over the period rose 14% to $7.5 trillion.
