Yuan outperforms euro, becomes 2nd most popular trade finance currency
The share of the yuan in global trade finance has jumped from 1.89 percent in January 2012 to 8.66 percent in the form of letters of credit and collections in October 2013, the Society for Worldwide Interbank Financial Telecommunication (SWIFT) data shows.
Yuan Passes Euro as 2nd-Most Used Trade-Finance Currency
Yuan Hits Milestone in Trade Finance Deals
Chinese yuan becomes 2nd most used currency for trade finance