23 May '11, 10am

Yuan likely to be 3rd most popular trading currency: By Robin Chan THE Chinese yuan looks set to become th...

Yuan likely to be 3rd most popular trading currency: By Robin Chan THE Chinese yuan looks set to become th...

The Chinese yuan looks set to become the third most popular trading currency in the next six months, according to an HSBC survey of trade confidence. -- PHOTO: AP THE Chinese yuan looks set to become the third most popular trading currency in the next six months, according to an HSBC survey of trade confidence. The yuan's increasing acceptance around the world on the back of China's soaring growth has seen it overtake the British pound as the currency of choice for many trading firms. Only the United States dollar and the euro are ahead, said Mr Khuresh Faizullabhoy, HSBC's head of trade and supply chain. Since the last global survey in July last year, the yuan has become much more popular and currency traders feel they will be using more, he said, adding: 'That's to be expected given the fact that there is so much trade with China and the China trade is growing.' The resu...

Full article: http://www.straitstimes.com/BreakingNews/Money/Story/STIS...

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