Business

Chinese yuan share of world foreign exchange reserves hits new highs

The yuan’s share of the world’s central banks reached a new high of 2.45% in the first quarter of 2021, according to the IMF’s Official Foreign Exchange Reserve Currency Composition (COFER) survey.

The total RMB of foreign exchange reserves was worth $ 287,460 million.

The previous foreign exchange share of the RMB in the fourth quarter of 2020 was 2.2%. According to the IMF’s COFER survey, the Chinese currency has grown for the ninth consecutive quarter since the IMF began tracking its share of the yuan in 2017.

The survey also showed that the US dollar is the most widely held currency by the world’s central banks. The greenback share is currently 59.5%, with the euro and yen far behind at 20.57% and 5.89%, respectively.

For more information on economics and finance, please visit: RT business unit

(((RT.com)

Chinese yuan share of world foreign exchange reserves hits new highs

Source link Chinese yuan share of world foreign exchange reserves hits new highs

Related Articles

Back to top button