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Central banks up reserves of RMB to a high


Central banks up reserves of RMB to a high
By CHEN JIA |
China Daily |
Updated: 2021-07-02 08:12
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5-year record shows Chinese yuan s internationalization progressing well
Central banks around the world are holding record levels of reserves in Chinese yuan, according to IMF data.
Analysts said the current five-year high marks another step forward for the Chinese currency s internationalization, a process that began a few years back.
In the first quarter this year, various central banks held $287.46 billion worth of Chinese RMB in official foreign exchange reserves, the highest level since the fourth quarter of 2016 and representing 2.45 percent of the total, the International Monetary Fund reported on Wednesday. ....

Lu Ting , United Kingdom , Zhang Ming , Serkan Arslanalp , Balance Of Payments Division , International Monetary Fund , Fitch Ratings , Statistics Department , Chinese Academy Of Social Sciences , Currency Composition Of Official Foreign Exchange , Special Drawing Rights , Official Foreign Exchange Reserves , Chinese Academy , Social Sciences , Payments Division , லு டிங் , ஒன்றுபட்டது கிஂக்டம் , ஜாங் மிங் , சமநிலை ஆஃப் கொடுப்பனவுகள் பிரிவு , சர்வதேச பண நிதி , ஃபிட்ச் ரேடிஂக்ஸ் , புள்ளிவிவரங்கள் துறை , சீன கலைக்கழகம் ஆஃப் சமூக அறிவியல் , நாணய கலவை ஆஃப் அதிகாரி வெளிநாட்டு பரிமாற்றம் , சிறப்பு வரைதல் உரிமைகள் , அதிகாரி வெளிநாட்டு பரிமாற்றம் இருப்புக்கள் ,

Central banks up reserves of RMB to a high


Central banks up reserves of RMB to a high
1
2021-07-02 08:56:22China Daily
Editor : Mo Hong e
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A cashier at a bank in Taiyuan, Shanxi province counts renminbi notes. (Photo/China News Service)
5-year record shows Chinese yuan s internationalization progressing well
Central banks around the world are holding record levels of reserves in Chinese yuan, according to IMF data.
Analysts said the current five-year high marks another step forward for the Chinese currency s internationalization, a process that began a few years back.
In the first quarter this year, various central banks held $287.46 billion worth of Chinese RMB in official foreign exchange reserves, the highest level since the fourth quarter of 2016 and representing 2.45 percent of the total, the International Monetary Fund reported on Wednesday. ....

Lu Ting , United Kingdom , Zhang Ming , Serkan Arslanalp , Balance Of Payments Division , Photo China News Service , International Monetary Fund , Fitch Ratings , Statistics Department , Chinese Academy Of Social Sciences , Currency Composition Of Official Foreign Exchange , China News Service , Special Drawing Rights , Official Foreign Exchange Reserves , Chinese Academy , Social Sciences , Payments Division , லு டிங் , ஒன்றுபட்டது கிஂக்டம் , ஜாங் மிங் , சமநிலை ஆஃப் கொடுப்பனவுகள் பிரிவு , புகைப்படம் சீனா செய்தி சேவை , சர்வதேச பண நிதி , ஃபிட்ச் ரேடிஂக்ஸ் , புள்ளிவிவரங்கள் துறை , சீன கலைக்கழகம் ஆஃப் சமூக அறிவியல் ,

Does the Great Reset involve the rise of the digital yuan, fall of the dollar?


By: Andrew Moran
The global economy is in the early days of digitalizing currencies. Central banks worldwide are either in the infancy period of transitioning to digital money or deliberating digitalization’s pros and cons. After a couple of trials in the post-coronavirus recovery, China is placing its bets on the digital yuan, advancing its scope and reach to become the kingpin of fiat money. But market analysts are only now beginning to show an interest in the virtual yuan, potentially out of fear that it could threaten and undermine the U.S. dollar and inflate its standing among international reserve currencies. Is this a positive step in the diversification of currencies, or will it be more of the same big-government economics? Whatever the case, the red dragon continues to expand its fiery breath across the globe. ....

United States , United Kingdom , Jerome Powell , Janet Yellen , Mao Zedong , Zhou Xiaochuan , Andrew Moran , International Monetary Fund , Federal Reserve , People Bank , Tencent Holding Wechat Pay , National Security Council , Ant Group Alipay , Currency Composition Of Official Foreign Exchange , Ant Group , Tencent Holding Wechat , State Department , Reserve Chair Jerome Powell , Secretary Janet Yellen , Currency Composition , Official Foreign Exchange Reserves , Liberty Nation , Great Reset , ஒன்றுபட்டது மாநிலங்களில் , ஒன்றுபட்டது கிஂக்டம் , ஜெரோம் போவல் ,