Yuan- one of the top three currencies for settling trade transactions?

China to Free Currency in 5 Years, Says Hong Kong Exchanges’ Li - Bloomberg: "“Asia is the future for all of us,” Andreas Preuss, chief executive officer of Eurex AG, said during the panel discussion. He said the expected population growth in the region and the increase in average wealth would create demand for futures and options contracts.
Since China started a pilot program allowing the use of yuan to settle international transactions in 2009, the proportion of its trade conducted in the currency has increased to 9 percent from less than 1 percent, according to the People’s Bank of China. By 2015, a third of China’s cross-border trade will be settled in yuan, making the currency one of the three most used in global trading along with the dollar and euro, HSBC forecast this week in a report.
London Racing
London is racing against Paris and Zurich to become the center for yuan trading in Europe as China seeks to take its currency global. "

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