Beijing's hopes of globalising currency hit snag: report

Shanghai

CHINA'S yuan slipped a notch to become the sixth most used global currency over the course of last year, hit by depreciation and government capital controls, a report said on Thursday.

Analysts said that the drop was a setback for Beijing's ambitious plans to dramatically increase the use of its currency abroad and make it a mainstay for international payments on a par with the US dollar or euro.