Global central banks to boost share of Chinese yuan while reducing US dollar holdings – survey ...News

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Global central banks to boost share of Chinese yuan while reducing US dollar holdings – survey
source : Russia Today ( News ) () 9
One third of central banks worldwide will add the yuan to their reserve assets in the nearest future, prompting the rise of the Chinese currency, a global survey shows. According to the Global Public Investor survey, published by the London-based Official Monetary and Financial Institutions Forum (OMFIF), 30% of central banks plan to increase their yuan holdings over the next 12-24 months, up from only a 10% increase last year. Also on rt.com China cheers Russia’s move away from US dollar in favor of yuan OMFIF claims the yuan's rise is likely to be a gl

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