According to SWIFT data, the yuan has made a significant milestone by surpassing the euro to become the second major currency in global trade for the first time. The share of the Chinese currency in international payments saw a notable increase, rising from 4.82% in August 2023 to 5.8% in September. This marks the highest level in the past five years for which data is available.

However, it's important to note that the U.S. dollar still holds the top position, with its share in trade settlements increasing to 84.15% in September, up from 83.95% the previous month. This development reflects China's growing role in the global economy. 🌐💵🇨🇳🇪🇺