Central Banks Had More Chinese Yuan Than Ever in Forex Reserves in First Quarter Zhou Ailin Central Banks Had More Chinese Yuan Than Ever in Forex Reserves in First Quarter
(Yicai Global) July 2 Central banks around the world boosted their holdings of foreign exchange reserves in Chinese yuan to a historic high in the first quarter amid promising prospects in the world s second-largest economy.
Yuan reserves jumped 6.7 percent to USD287.5 billion from a quarter earlier, rising for the ninth straight quarter, according to the International Monetary Fund s report published on June 30.
The share of yuan in global foreign exchange reserves climbed to 2.5 percent in the first quarter, hitting the highest since the fourth quarter of 2016.
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