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China's fourth most traded currency in the world during August
10/7/15
Agencies - revealed the global financial Radiocommunication Assembly interbank SWIFT data, that the Chinese currency, the yuan became the fourth most actively traded currency in foreign exchange during the month of August.
Swift reports pointed out that the last week of August saw a marked increase in trading of the Chinese currency, because of what the concerns about the Chinese economy and the Chinese authorities to reduce the value of the yuan.
It was the yuan trading in global payments in August by 2.8 per cent, compared with 44.8 per cent of the dollar, the euro and 27.2, and 8.5 per cent for the pound sterling.
And it used more than 100 countries in the world in the yuan payments, and focus about 90 per cent of global payments in the currency of the yuan in 10 countries, where it formed Singapore of these payments in the proportion of 24.4 percent, the United Kingdom and about 21.6 per cent.
While in the month of August 2012, the Chinese currency comes in at No. 12 on the list of Swift, where data show that the yuan trading in global payments was much less than the US dollar, the euro, and the pound sterling.
Swift to review the value of the Chinese currency, and perhaps see was one of the factors that boosted the yuan in the global foreign exchange markets, where transactions in yuan rose in August by 20 per cent from a month earlier.
The Chinese central bank may cut earlier, the value of the yuan to the lowest level against the US dollar for nearly three years, came The move comes in the wake of a series of weak economic data from the second largest economy in the world.
And then raised China's central procedures fears of a global currency war, amid accusations of Beijing by giving an unfair advantage to exporters.
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