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Central banks look to China’s renminbi to diversify foreign currency reserves

Financial Times LogoFinancial Times1 mo ago

Central banks look to China’s renminbi to diversify foreign currency reserves

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It accounted for just under 60 per cent of allocated reserves at the end of the first quarter of 2022, down from 65 per cent in the same period in 2016, according to IMF data.

Reserve managers are seeking alternative assets such as equities, green debt and inflation-protected bonds in light of worries over holding US Treasuries, the survey showed.

Central banks typically hold dollars through US government debt, which has sold off sharply this year as the Fed has tightened monetary policy.


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Article Details

Author / Journalist: Nikou Asgari

Category: MarketsFinanceInvesting

Topics: Banks Reserve 2022 Central Renminbi Dollar Financial Managers Currency Year Cent

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-07-01, 00:00:18

News Timezone: GMT -5:00

News Source URL: ft.com

Language: English

Reading Time: 4 minutes read

Article Length: 572 words

Coverage Area: United States

Availability: Desktop Web, Mobile Web

News ID: 23897

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About Financial Times

Financial Times Logo

Main Topics: MarketsFinanceInvesting

Official Website: ft.com

Update Frequency: 14 posts per day

Year Established: 1888

Headquarters: United States

News Last Updated: 8h ago

Coverage Areas: United States

Ownership: Independent Company

Publication Timezone: GMT -5:00

News Language: English

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