BTCC
/
BTCC Square
/
Global Cryptocurrency
/
Chinese Yuan Gains Ground Against US Dollar in Emerging Markets
Chinese Yuan Gains Ground Against US Dollar in Emerging Markets
19
3
BTCCSquare news:
The Chinese yuan is quietly displacing the US dollar as the preferred currency for trade settlements across Africa and Asia. Yuan-denominated loans now dominate cross-border lending from Chinese banks, with dollar-based financing to emerging economies dropping 16% since Q1 2022 according to Semfora data.
Beijing's push for a multipolar currency system appears to be gaining traction. People's Bank of China Governor Pan Gongsheng recently advocated for reducing global reliance on any single reserve currency, as developing nations increasingly adopt yuan-based trade frameworks.
By:
Previous
Toncoin (TON) Foundation Launches Tolk Language with 40% Gas Efficiency Boost for Developers
Next
Global Firms Lose $320 Billion to Geopolitical and Economic Disruptions
