Yuan overtakes euro in trade finance: NBU data on growth

According to hvylya.net: Experts of the National Bank of Ukraine reported that countries with developing markets are increasingly using national currencies in international settlements, with the Chinese yuan being the most notable.

According to the NBU, the share of the yuan in global payments rose to 3.6% in the first half of 2025, compared to 2.2% four years ago. This indicates a steady strengthening of the Chinese currency's position in international markets.

The Chinese yuan has taken second place in the field of trade finance with a share of 6.3%, surpassing even the euro. However, the US dollar remains the unchanged leader with a share of 82.3%.

Other currencies, such as the Indian rupee and the Saudi riyal, also show growth in international settlements, but their shares have not yet exceeded 1%.

According to NBU experts, the increased use of national currencies is explained by China's attempts to reduce dependence on the dollar in the context of trade conflicts with the USA. Additionally, after 2022, countries are circumventing sanctions by turning to the yuan.

The significant impact on the growth of yuan usage is driven by active use by entities that have come under sanctions, such as Russia. The share of the yuan in China's settlements for Russian goods imports rose to 23% in 2022 from the previous 4%.

Moreover, China is actively developing international lending in yuan and expanding the network of clearing banks in various countries.

The section of international settlements is increasingly shifting towards the use of the Chinese yuan, reflecting the aspirations of developing countries to diversify financial operations and reduce dependence on the US dollar. China's proactive policy in this direction contributes to the strengthening of its national currency's position in international financial markets.