Posted inAT Finance, Beijing, China, European Union, Hong Kong, Japan, Northeast Asia, Shanghai, Singapore, Tianjin, World

The growing role of RMB in global reserve currency system

This month, one of the most powerful central banks in the world, the European Central Bank, invested €500 million (US$560 million) of its foreign reserves in renminbi (RMB) assets, by selling a small portion of its US dollar holdings. This is part of the ECB’s diversification strategy to add the Chinese currency into its foreign-exchange […]

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