Yuan will not rival dollar for foreseeable future – Fed study
Figures show aggregate usage of currency lags behind that of euro, yen and pound
The yuan’s relative importance in international finance is still eclipsed by that of the dollar, says the head of the US Federal Reserve board’s global monetary and sovereign markets section.
In a note published on August 30, Bastian von Beschwitz examines aggregate international currency usage and says the yuan is “nowhere close” to overtaking the greenback in international importance.
The dollar’s share of aggregate international currency usage is 66%, he says, whereas the yuan accounts for only
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