Yuan’s Global Popularity Keeps Rising With Usage at Record High

(Bloomberg) — The Chinese yuan is making deeper inroads as a currency of choice for global payments, with international transactions climbing to their highest level ever.

Payments using the renminbi, as the currency is also known, jumped to a record 3.2% of market share, according to data from the Society for Worldwide Interbank Financial Telecommunications, breaking through its previous high set in 2015 that came on the back of a currency devaluation in a bid to increase exports.