RMB jumps to 9th most active global currency

China’s yuan jumped to ninth place on a list of most-traded foreign exchange currencies in the latest report from the Bank for International Settlements’ (BIS), pushing back widely used currencies such as the Swedish krona and New Zealand dollar, The Wall Street Journal reported. Trading in the Chinese currency, also known as the renminbi, has more than tripled over the past three years, to US$120 billion a day in 2013, BIS said in the report. It’s the first time China has joined the ranks of the most-traded international currencies, suggesting the rise of the world’s second-largest economy and the growth of the global foreign-exchange market.