Jun 27, 2023 05:36 PM

FINANCE

Yuan Becomes Fifth Most-Traded Currency on Spot Forex Market

By Zhang Ziyu and Wang Shiyu

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The yuan jumped over the Canadian dollar again to become the world’s fifth most-traded currency in May in terms of spot foreign exchange transactions.

The Chinese currency had come in sixth the previous month, according to the monthly tracker of the yuan released by the Society for Worldwide Interbank Financial Telecommunication (SWIFT), which does not provide data on each currency’s share of total spot forex transactions.

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