Yuan, in March, became China’s most widely-used currency for cross-border transactions.

iexclusivenews reports that this is the first time it has overtaken the dollar. This reflects Beijing’s efforts to internationalize the yuan.

Yuan’s Share of Cross-Border Transactions Increases
Cross-border payments and receipts in yuan rose to a record $549.9 billion in March. This is up from $434.5 billion a month earlier. The data comes from the State Administration of Foreign Exchange. CONTINUE READING: https://iexclusivenews.com.ng/2023/04/26/yuan-surpasses-dollar-in-chinas-cross-border-transactions/