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Cross-border use of RMB is gaining popularity
According to data released today by the Bank of China, cross-border and overseas use of the yuan has become more popular in the first quarter of this year, Xinhua news agency reported.
The RMB cross-border index (CRI), which characterizes currency activity in cross-border and foreign transactions, reached 278 points in the first three months of this year, an increase over the same period last year was 47 percent.
The Bank of China said that the demand for Chinese currency on the foreign market has increased.
The Bank of China is the main Chinese channel for the cross-border circulation of the yuan, it is working to popularize the yuan in connection with China’s desire to promote the use of the national currency in the global market.