Financial investigation: Chinese yuan rivals the dollar and will become a global currency

A survey released by the “Forum of Official Monetary and Financial Institutions” showed that the yuan could become a global currency, as about a third of the world’s central banks plan to increase their Chinese currency reserves.

According to the Global Government Investor Survey, published annually by the Forum of Official Monetary and Financial Institutions, an independent think tank active in Britain and the United States, 30% of central banks plan to increase their yuan holdings over the next year. over the next few months. two years.

According to the “Forum”, the yuan’s share is currently equivalent to 10% of central banks’ foreign exchange reserves.

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The survey showed that 20 percent of these banks plan to reduce their holdings of US dollars within two years, while 18 percent of them plan to reduce their holdings of euros.

According to the survey, central banks, sovereign wealth funds and pension funds hold a record level of assets of $ 42.7 trillion.

Source: “Anadolu Agency”

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