Yuan becomes the 4th most widely used currency for payments in the world, says organization

HONG KONG (Reuters) - China's currency, the yuan, has become the fourth most used for payments in the world in August, surpassing the yen Japanese, said on Tuesday (6) the global organization of SWIFT transaction services.

The yuan has exceeded seven currencies in the past three years as a currency for payment and is now just behind the US dollar, the euro and the pound.

In total, global payments in yuan rose in value 9.13% in August, while payments in all currencies fell 8.3%, according to the organization.

Over 100 countries have used the yuan to payments in August, with more than 90% of the flow were concentrated in 10 countries. Singapore has processed 24.4%, followed by the UK with 21.6%.