Yuan Is Ninth Most Traded Currency, Report Says

(Beijing) – The role of China's currency in global foreign exchange trading has surged in line with increased efforts to internationalize the yuan, a new report by an organization that works with central banks around the world says.

The report released on September 5 by the Bank for International Settlements (BIS) said that yuan turnover soared from US$34 billion a day in 2010 to US$ 120 billion this year.