The US dollar is widely considered to be the dominant global currency. For example, the daily turnover of USD on the foreign exchange is 6 billion dollars, 3 times as much as the Euro, the second most commonly used currency. In recent years, China has been encouraging the use of the Yuan internationally, for example by pushing Belt and Road member states to hold Yuan in their foreign reserves, selling bonds, and providing support to encourage yuan-denominated cross-border transactions.