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Main article: People's Bank of China
2024: Depreciation against the US dollar by 15% over 10 years
2023
Yuan beats Japanese yen to rank fourth in global payments
In November 2023, the Chinese currency overtook the toxic euro and became the second most used in trade calculations.
Swift data showed the yuan's share of global payments rose to 4.6% in November, up from 3.6% a month earlier.
Record volume of swaps in yuan for the Central Bank of other countries
Global central banks are using a record number of yuan from People's Bank of China swaps, further evidence of the yuan's growing international status.
2022: Yuan's share of international settlements hits record 3.2%
The renminbi's popularity in the world continues to grow, with international transactions reaching their highest level ever in January 2022.
Payments using the yuan jumped to a record 3.2%, breaking the previous high set in 2015.
However, despite the growth in the rating and the increase in market share by an order of magnitude over the past 12 years, the yuan is still inferior in popularity to the US dollar and the euro.
2020: Reducing the use of the dollar in favor of the yuan in international trade
The share of payments and other transactions nominated in the yuan that the banks of the Middle Kingdom performed for their clients reached 37% in June 2020, while a year ago this figure was only 19%. The share of similar dollar payments decreased during this time from 70% to 56%, follows from the data of the State Administration of Foreign Exchange Control of the PRC (schedule).
Such a drop in the popularity of the dollar, on the one hand, is due to the desire of Chinese companies to protect themselves from currency volatility, and on the other, they are deliberately pushed to this by the country's authorities.
2019: Yuan in circulation - $1 trillion
The gold supply as of August 2019 is $8.7 trillion, the US dollar supply is $1.7 trillion. The volume of rubles in circulation is $150 billion.
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