Yuan now in world's top five as payment currency

Hong Kong

CHINA'S yuan broke into the top five as a world payment currency in November, overtaking the Canadian dollar and the Australian dollar, global transaction services organisation Swift said on Wednesday.

After nearly a year firmly positioned at seventh spot, the yuan reached a record-high share of 2.17 per cent in global payments by value and is in sight of the Japanese yen, which has a share of 2.69 per cent.