China's Yuan becomes world's second most-used global trade currency

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Source: Bloomberg
The Chinese currency took the second spot in a ranking of the most-used global trade currencies in 2013 overtaking a spot of the 17-nation bloc currency and ranked behind the U.S. Dollar, a report published by the Society for Worldwide Interbank Financial Telecommunication showed on Tuesday. According to the report, the Yuan recorded a share of 8.66% of letters of collections and credit compared to Euro's 6.64% share.

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