Home Breadcrumb caret Investments Breadcrumb caret Market Insights Yuan beats loonie as world’s fifth-most-used currency The Chinese yuan is now the world’s fifth most popular currency for global payments, edging out the Canadian dollar. By Staff | February 11, 2015 | Last updated on February 11, 2015 1 min read The Chinese yuan is now the world’s fifth most popular currency for global payments, edging out the Canadian dollar, reports Bloomberg. The change comes as the International Monetary Fund prepares to review which currencies should count towards member countries’ official reserves. Those denominations are currently the U.S. dollar, the euro, the pound, and the Japanese yen—respectively the world’s four most-used currencies. Read: Low oil boosts emerging markets The yuan now has a greater chance of joining those ranks. Read more here. Also read: Fed won’t raise rates this year: Buffett Get ready for another BoC rate cut: Shenfeld Staff The staff of Advisor.ca have been covering news for financial advisors since 1998. Save Stroke 1 Print Group 8 Share LI logo