Currency places ninth among top 10, hits $120b in turnover in early 2013

The renminbi, also known as the yuan, has made its debut on the list of the 10 most actively traded currencies, according to a survey released by the Bank for International Settlements on Thursday.

Daily renminbi turnover soared from the equivalent of $34 billion in 2010 to $120 billion in early 2013, making it the ninth most-traded currency.