China’s yuan surpassed the Japanese yen to become the world’s fourth most-used payments currency last August, but the rise was short-lived. The yuan’s journey in becoming an international currency retreated back to the fifth spot a month later and has stagnated there ever since amid concerns about slowing Chinese economic growth. In March, 3.27 percent of global transactions were conducted in the Japanese currency, the largest proportion since November 2011, behind the U.S. dollar, Euro, and British pound.

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