Ella 
22
In July, the Chinese yuan achieved a significant milestone by reaching a record share of 4.74% in global payments, up from 4.61% in June. This marks a notable step in Beijing’s strategy to challenge the dominance of the US dollar and enhance its role in the global monetary system.
The yuan maintained its position as the fourth most used currency for international transactions, according to data from the Society for Worldwide Interbank Financial Telecommunication (Swift), the leading global interbank messaging service. This increase underscores China’s ongoing efforts to internationalise its currency and expand its influence in global finance.
