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Yuan climbs the currency ranks

The yuan significantly gained in importance on the international currency market over the past three years. This is shown in a new study by the Bank for International Settlements (BIS). According to the study, the Chinese currency has passed three other countries in the ranking of the most traded currencies during this period. China now ranks fifth, ahead of Australia, Canada and Switzerland. The yuan continues to be surpassed by the US dollar at the top, followed by the euro, the Japanese yen and the British pound.

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