Central bankers see reserve future for renminbi
The renminbi will over the long term become a reserve currency, according to the overwhelming majority of the central bank reserve managers who responded to a survey carried out by Central Banking Publications
Thirty-five per cent of respondents think the renminbi will account for at least 5% of global foreign-exchange reserves by 2025 or before. Over half of respondents to the survey said it would take more than 16 years.
The responses come at a time when questions are being asked about the
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