Monday 22 October 2018
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4 months ago

Yuan set to play bigger role in global reserves, says HSBC

Global reserve managers expect 8.5 percent of foreign reserves to be invested in renminbi by 2020, according to a recent survey sponsored by HSBC, an international banking and financial services institution. The number went up from a previous forecast of 6.9 percent by 2020 made in 2015. Renminbi is seen as more attractive than a year ago by 74 percent of reserve managers in the HSBC survey, the highest among major currencies, followed by the US dollar and the euro. The study includes 79 reserve

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