Chinese Yuan Becomes 4th Most Popular Currency Worldwide! 🌐💰

Hey there, curious minds! Did you know that money doesn’t just come in dollars and euros? There’s also the Chinese yuan, and it’s becoming super important around the world!

In November, the Chinese yuan, also called the Renminbi (which means “people’s currency”), moved up to become the fourth most used currency for payments all over the globe! That’s a big deal! 🎉

So, what does this mean? Well, more and more countries are using the yuan to buy and sell things, like toys, computers, and even big airplanes. In fact, the use of the yuan increased by 22.12% compared to the month before. 📈

For a while, the Japanese yen was the fourth most popular, but now the yuan has taken the spot again. Countries are also making special agreements with China called currency swap agreements. This helps them trade without needing other currencies in between.

Professor Xi Junyang from Shanghai University says this shows that the yuan is becoming more popular because countries are choosing to use it for trade and investment. 🌟

Isn’t it amazing how money moves around the world? Maybe one day, you’ll be using yuan too! What do you think about that?

Reference(s):

RMB surpasses yen as 4th most popular currency for global payments

cgtn.com