China’s Yuan Joins Top Five Payment Currencies

China’s currency has been outrunning both the Canadian and Australian dollars since November, according to a SWIFT statement. Some experts say the yuan could eventually overtake the American dollar share in international markets.

MOSCOW, January 28 (Sputnik) — The Chinese yuan has become the world’s fifth most used payment currency, data from the SWIFT banking transaction network showed Wednesday. Continue reading

Iran’s central bank stops US dollar transactions, adopts RMB

Iran’s central bank has announced that it will stop mutual settlements in the US dollar with other countries, with the Chinese yuan or renminbi being named as one of the alternatives. Continue reading