Global central banks to boost share of Chinese yuan while reducing US dollar holdings – survey | WHAT REALLY HAPPENED

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

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.

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