2023
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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In which country did China’s Yuan replace the dollar as the most traded currency?
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Singapore
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Russia
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Norway
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Oman
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Explanation:
Detailed explanation-1: -China’s renminbi replaces US dollar as most traded currency in Russia. LONDON – China’s renminbi has replaced the US dollar as the most traded currency in Russia, a year after the invasion of Ukraine led to a slew of Western sanctions against Moscow.
Detailed explanation-2: -Russia, Iran, Brazil, Argentina, and Bangladesh are making headway in using the yuan for trade.
Detailed explanation-3: -China’s RMB Yuan Overtakes US Dollar Use In China’s Foreign Trade For The First Time. China’s RMB Yuan surpassed the US dollar to become the most-used currency in China’s cross-border transactions last month, according to data from China’s State Administration of Foreign Exchange (SAFE).
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