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The Chinese Renminbi (RMB) has risen to become the fourth most active global payment currency in November, surpassing the Japanese yen with a 3.89% share, marking a 22.12% increase from October.
Standard Chartered CEO Bill Winters discusses the growing use of RMB in global trade and the need for further steps to facilitate its internationalization.
The Bank of Japan’s decision to keep interest rates near zero has led the Yen to reach multi-decade lows against the US dollar, raising concerns among traders and investors.