HONG KONG — China’s yuan has joined the ranks of the most traded currencies for the first time, underlining the growing might of the country’s economy, the world’s second-largest.
The yuan became one of the Top 10 traded currencies in 2013, rising to No. 9 over a “significant expansion” in offshore trading, the Bank for International Settlements said Thursday. The yuan, or the renminbi, was No. 17 on the list in 2010.