China’s CBDC could change global reserves, panellist argues
A digital yuan, if accessed widely, could change the reserve currency landscape, policy-makers say
China’s central bank digital currency could help the yuan challenge the US dollar as the dominant global reserve currency.
Speaking at Central Banking’s National Asset and Liabilities Management (NALM) Americas virtual event on September 17, participants noted the yuan has yet to challenge the dollar’s dominance, given the US currency is so ingrained in existing financial infrastructure.
However, a central banker from a small central bank in the Americas noted a CBDC could change that. “If
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