ব্যঙ্গাত্মক বর্ণনা এবং ফরেক্সের প্রবেশদ্বার বিন্যাস

Yuan gains ground, but dollar retains its reign

Imagine that China has not wasted a single opportunity. It seized the moment to promote its currency! That is what it means to keep your finger on the pulse.

According to Reuters, Beijing took advantage of the confusion and disruptions in global trade to push for broader international use of the yuan. However, the Chinese currency is not smooth sailing. While the yuan's rise is unlikely to dethrone the US dollar, it does strengthen China’s hand. Still, analysts believe the euro, not the yuan, will be the main beneficiary of growing distrust in the greenback.

In March 2025, cross-border yuan payments reached a record high, and global demand for the currency continues to grow. The driving force behind this trend is the aggressive tariff policy of US President Donald Trump. The sweeping import duties imposed by the American leader have undermined confidence in the dollar and US assets. Meanwhile, China is not sitting idly by. The state-owned financial firm China UnionPay, controlled by the People’s Bank of China (PBOC), has expanded its payments network in Vietnam and Cambodia. Preliminary estimates suggest this system will soon cover more than 30 countries. Under such a scenario, the yuan’s international reach will grow, helping it secure a firmer status as a trade and investment currency.

Yet, Reuters is convinced that no currency rivals the US dollar at the moment. According to SWIFT data, the greenback still accounts for nearly 50% of global payments. Although the yuan has climbed to fourth place in global payment rankings, its 4% share is far from enough to challenge the top spot. As a result, investors are more likely to turn to the euro than to the yuan amid dollar skepticism. Still, China’s deepening ties with emerging markets and Global South countries may encourage broader use of its national currency, the experts conclude.

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