Decade on, Chinese yuan wins worldwide recognition
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Bangladesh, July 12 -- Beijing, July 12 (Xinhua/UNB) -- From a currency that barely registered in the international market to one with worldwide recognition, Chinese yuan's rise on the global stage over the past decade is a testament to China's growing economic clout and unwavering opening up.
Since July 2009 when the yuan's global journey started with a pilot scheme allowing for yuan settlements in cross-border trade, the redback's overseas footprint has been expanding rapidly, being widely used in international trade, finance as well as serving as a reserve currency.
According to a report released at the 2019 International Monetary Forum at Renmin University, the RMB Internationalization Index (RII) came in at 2.95 percent as of the e...
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