Yuan’s yen to go global

Will the global currency club of five comprising the US dollar, Japanese yen, euro, pound sterling and Swiss franc be expanding soon by including the Chinese yuan? China’s astounding pace of economic growth and the rapid expansion in the size of its economy over the last three decades has made its currency a serious contender as a global currency. Among the three emerging markets in the world’s 10 largest economies—China, Brazil and India—the Chinese yuan is touted as the hottest favourite for becoming a new international currency.

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