Renminbi emerges as top currency for payments between Asia and China

Yuan now accounts for third of region's payments with China and Hong Kong

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The 327% increase catapulted the yuan from fifth to first place

The yuan has emerged as the number one currency for payments between China and the rest of Asia, completing an unparalleled ascent from virtual obscurity just a few years ago, payments infrastructure company Swift says.

"Renminbi is now the most active currency used by Asia for payments with China and Hong Kong," says the financial messaging platform, which provides monthly statistics on the currency's expansion through its 'RMB tracker'.

Close to a third of total payments between China and the

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