Central Banks Will Accelerate Rise Of China's Yuan
Central Banks Will Accelerate Rise Of China's Yuan, Global Survey Shows
Marc Jones Wed, July 21, 2021
LONDON (Reuters) - The Chinese yuan is on course to become a much more influential part of the global financial system with almost a third of central banks planning to add the currency to their reserve assets, a closely followed survey showed on Wednesday.
The Global Public Investor survey, published annually by the London-based OMFIF think tank, showed 30% of central banks plan to increase yuan holdings over the next 12-24 months, compared with just 10% last year.
It comes despite the differences between Western governments and China on the global stage. The yuan's rise will almost certainly be a global trend, but may be especially strong in Africa where almost half of central banks are planning to increase their yuan reserves.
![Pasted%20image%201626879790277[1].png](https://images.squarespace-cdn.com/content/v1/5d5222a44813620001d89582/1627043376636-J6FSD8D0XWC2SRIF3518/Pasted%2520image%25201626879790277%5B1%5D.png)
Rising Interest In The Yuan
Other eye-catching findings showed that 75% of central banks now thought monetary policy was having excessive influence on financial markets, although only 40% thought these policies needed to be actively reconsidered.
In stark contrast to the yuan, 20% of central banks plan to reduce their holdings of the U.S. dollar over the next 12-24 months and 18% plan to reduce their euro holdings.
To continue reading, please go to the original article here:
https://finance.yahoo.com/news/central-banks-accelerate-rise-chinas-122356934.html
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The Crew: Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man
No drama. No intrigue. No songs and dances. Just straight, factual news that I read and interpret to the best of my ability after being an avid Dinar investor and insanely obsessed Dinarian for over 15 years.
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Stephen: Hey everyone, welcome back to the channel. We have some exciting and breaking news that came out of the central bank of Iraq today. So, I'm going to cover and go over those few articles that I think as dinar investors are um just exciting and I think they are very telling as to what the future might possibly hold.
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Good Morning Dinar Recaps,
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Monday Night Video
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Playback Number: 605-313-5163 PIN: 156996#
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TNT:
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