ALBAWABA- In a significant milestone, the Chinese yuan has officially surpassed the European euro, securing its position as the second-most-used currency in the world for international settlements, according to SWIFT data.
The yuan's share of international settlements reached 5.8% by the end of September, surpassing the euro by 5.43%.
This development marks the first time the yuan has risen to the second position in the global currency hierarchy, signaling China's growing influence in the international financial landscape.
