Yuan Cross-Border Use by Chinese Climbs to Record as Dollar Sags
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Chinese investors and trading companies boosted their use of the yuan in international settlements to a record last month as the dollar’s global allure dimmed and Sino-US trade tensions escalated.
Individuals and entities based in China used the yuan in 54.3% of their cross-border activities in March, for a total of $724.9 billion, according to Bloomberg calculations based on data published by the State Administration of Foreign Exchange on Tuesday.