Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Lebanese Ministry of Health: One person was killed in an Israeli airstrike on a car in the town of Burj Qalawieh, south Lebanon.
Al Mayadeen correspondent: The first ship of the Maghreb fleet delivering aid to break the siege on Gaza departs from the port of Gammarth in Tunisia.
Channel 12: Airspace closed at Ramon Airport due to fears of drone infiltration
IOF Spokesperson: Sirens sounded over an aircraft infiltration in the Bir Ora area, and details are being examined
Drone infiltration sirens sound north of the Gulf of Aqaba
Al Mayadeen's correspondent in Gaza: The Israeli occupation carried out five extremely violent raids on the western areas of Gaza City
Al Mayadeen's correspondent in Gaza: The Israeli occupation carried out major bombings in the Gaza Strip, the most violent since October 7
Yemeni Armed Forces spokesperson Brigadier General Yahya Saree: The missile force carried out a major operation using the Palestine 2 ballistic hypersonic missile, hitting several targets in occupied Yafa.
Sirens sound in large areas of occupied Palestine after a missile launch from Yemen was detected
Al Mayadeen's correspondent: 14 martyrs arrive at al-Shifa Hospital following Israeli massacre of al-Sultan Family north of Gaza.

Yuan jumps to fifth most traded currency: Report

  • By Al Mayadeen English
  • Source: The Global Times
  • 29 Oct 2022 09:53
2 Min Read

The Chinese yuan shows the largest increase in market share since a 2019 survey.

  • x
  • The Chinese yuan shows the largest increase in market share.
    The Chinese yuan shows the largest increase in market share.

A report released by the Bank of International Settlements (BIS) showed that the Chinese yuan has moved up to the fifth-most traded position, in terms of total global foreign exchange turnover, with a market share of 7%.

The yuan's new ranking, which increased from eighth place in a 2019 survey, highlights the currency's appeal in the face of efforts to de-dollarize the world's economies and a general consensus among investors about the world's second-largest economy's promising future.

The trading in OTC FX markets reached $7.5 trillion per day in April 2022, up 14% from $6.6 trillion three years earlier and setting a new record high, as per the report entitled "triennial central bank survey of foreign exchange and over-the-counter (OTC) derivatives markets in 2022”. 

Following the war in Ukraine, there was "increased FX volatility due to changing expectations about the path of future interest rates in major advanced economies, rising commodity prices, and geopolitical tensions", the report added.

Related News

Russian drones in airspace were 'duds': Polish FM

Russia boasts military might with Zircon hypersonic missiles, bombers

The Chinese yuan, which was on one side of 7% of all trades in 2022, up from 4% in 2019, showed the largest increase in market share since the 2019 survey.

Chief research fellow at the Sinosteel Economic Research Institute Hu Qimu said as quoted by The Global Times that countries are actively looking for alternative currencies to insure against financial risks as Fed interest rate hikes cause both advanced and developing economies' currencies to depreciate sharply. 

In this environment, the Chinese yuan, which saw relatively "moderate" value depreciation compared to other major currencies like the pound and euro, has emerged to become the trade settlement and foreign exchange reserves of more nations, Hu added.

"The yuan's expansion in the global market also reflects the global confidence on the outlook of the Chinese economy, which is underpinned by its position as the world's largest trading nation, its sound economic fundamentals and sheer market size," Hu stressed, as quoted by the Global Times.

Read more: Oil for Yuan a "big, bad thing", says Republican senator

  • Yuan
  • China
  • Ukraine
  • US
  • Russia
  • global markets

Most Read

The damaged building in the Katara neighborhood, Doha, Qatar, September 9, 2025 (Social media)

Hamas delegation survives Israeli assassination attempt in Qatar

  • Politics
  • 9 Sep 2025
Israeli police and rescue teams respond at the scene of a shooting attack where several people killed and injured in Jerusalem, Monday, Sept. 8, 2025 (AP)

Al-Quds shooting: 7 settlers killed, several critically injured

  • Politics
  • 8 Sep 2025
Pro-"Israel" conservative Charlie Kirk shot during Utah speech

Pro-'Israel' far-right Charlie Kirk shot dead during Utah speech

  • US & Canada
  • 11 Sep 2025
Uprising against Volker Turk at the Human Rights Council over Gaza.

Uprising against Volker Turk at the Human Rights Council over Gaza

  • Politics
  • 12 Sep 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
People protest against Israeli Prime Minister Benjamin Netanyahu during the 79th session of the United Nations General Assembly, in New York, on Friday, September 27, 2024 (AP)
Politics

'Israel' stops unfunded diplomacy ahead of UN, October 7 memorial

An Israeli Air Force fighter jet releases flares over the Gaza Strip, is seen from southern occupied Palestine, Thursday, May 8, 2025 (AP)
Politics

OIC summit draft: Israeli attack on Qatar risks normalization

People shout slogans and hold Palestinian flags while protesting during the twenty-first stage of La Vuelta cycling race from Alalpardo to Madrid, Spain, Sunday, Sept. 14, 2025. (AP)
Sports

Pro-Palestine protests force abrupt end to Vuelta a España finale

Damage is seen after an Israeli strike targeted a compound that hosted Hamas' political leadership in Doha, Qatar, on Wednesday, September 10, 2025 (AP)
Politics

Israeli regime faces growing isolation over Qatar strike: Reports

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS