Yuan gains ground as global currency

The yuan's share of global payments rose to a record in September as China bolstered efforts to promote international use of its currency.

The yuan accounted for 1.72 percent of payments, up from 1.64 percent the previous month, the Society for Worldwide International Financial Telecommunications reported on Thursday.

The value of transactions increased 13.2 percent and the currency ranked seventh in terms of usage, Swift said.