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Central banks to accelerate diversification into RMB
July 26, 2012
Global central banks are keen to gain exposure to the renminbi’s growing prominence by diversifying their reserves away from currencies with weak fiscal fundamentals, believe economists.
The People’s Bank of China (PBoC) has been relatively active in widening investment channels for foreign central banks and promoting the international use of the renminbi – also known as yuan – in foreign reserves. Central banks around the world...
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