BUSINESSJun 10 · 22:00 UTCSCMP CHINAJi Siqi

As de-dollarisation trends persist, can the yuan take the euro’s place?

China's yuan-denominated cross-border payment system, CIPS, set a record transaction volume of 1.22 trillion yuan ($180.3 billion) on April 2 after US President Donald Trump threatened Iran. The surge followed increased adoption of yuan settlements by oil-producing nations.

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Cross-Border Interbank Payment System (CIPS)organizationDonald TrumppersonyuantopicIranplaceoil-producing nationstopic

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