Yuan gets fresh boost in internationalization drive after Cambodia’s central bank adds it as official clearing currency

The yuan has received several fresh boosts in its rapid rise as a global currency, as more countries and overseas financial institutions adopt the use of the Chinese currency in payments and settlements.

On Wednesday, the National Bank of Cambodia (NBC), the central bank, announced that it would add the yuan and yen as official clearing currencies, allowing qualified banks to use both for international payments and settlements, the Xinhua News Agency reported.

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