Reserve managers cautious on renminbi, despite predicting rapid growth
Liberalisation, government intervention and PBoC’s stance on new investments are top concerns
Reserve managers see the renminbi rising in importance as a reserve currency, but the growth of the currency in their own portfolios is likely to be slower than the global trend, according to the latest Reserve Management Trends survey published by Central Banking.
This year, 79 reserve managers worldwide were surveyed, who are collectively responsible for $5.5 trillion in reserve assets – about 54% of the world’s total. A total of 39 central bankers, who oversee $2.9 trillion in reserves, said
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