Global trading of the Chinese yuan has surged to $817 billion a day, extending a decade-long trend with volumes nearing those of the British pound, according to the Bank for International Settlements. The
now makes up 8.5% of global currency transactions, up from 7.0% in 2022, according to the BIS’s triennial survey. While it remains the fifth-most traded currency, it closed the gap with fourth-placed sterling, whose share fell from 12.9% to 10.2%.
