The Chinese yuan is becoming an increasingly influential part of the global financial system. Nearly a third of central banks plan to add currency to their reserve assets. A closely followed survey showed Wednesday.
The Global Public Investor survey, published annually by slot London-based OMFIF Think Tank, finds that 30 percent of central banks plan to increase their yuan holdings over the next 12-24 months. compared to only 10% last year
RMB Rising Is Almost A Global Trend But it could be particularly strong in Africa, where nearly half of central banks are planning to increase RMB reserves.
In stark contrast to the yuan, 20% of central banks plan to reduce their holdings of the US dollar over the next 12-24 months, and 18% plan to reduce their holdings of the euro.