The yuan’s share of global reserves hit an IMF record｜Personal Loan｜EMVertex Credit

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According to recent data released by the international monetary fund (IMF), the proportion of RMB assets held by central Banks in foreign exchange reserves rose to 1.89% in the fourth quarter of 2018, surpassing Australian and Canadian dollars and the highest level since the IMF reported RMB reserve assets in October 2016.
According to the latest quarterly data on the composition of official foreign exchange reserve currencies released by the IMF, as of the fourth quarter of last year, RMB foreign exchange reserve assets were about 202.79 billion us dollars, accounting for 1.89% of the global official foreign exchange reserve assets, higher than 1.62% of the Australian dollar and 1.84% of the Canadian dollar.
The figures also show that global official foreign exchange reserve assets stood at about $10.73tn as of the fourth quarter of last year. The proportion of us dollar assets fell to 61.69 per cent, the third consecutive quarter of decline. Its share of assets rose to 20.69 per cent, the highest level since the fourth quarter of 2014.
Analysts believe the rising share of the yuan in the global central bank’s foreign exchange reserve assets reflects the increased interest of global foreign exchange reserve managers in holding RMB assets after the yuan was included in the IMF’s Special Drawing Rights basket at the end of 2016, and the reduced dependence on the us dollar, which is conducive to promoting the diversification of foreign exchange reserve assets.
At present, 149 countries and regions voluntarily report to the IMF on the composition of official foreign exchange reserves. The IMF breaks down the total foreign exchange reserves held by its members in eight currencies: the U.S. dollar, the euro, the British pound, the Japanese yen, the Swiss franc, the Australian dollar, the Canadian dollar and the Chinese yuan. The IMF has separately listed renminbi assets in its quarterly survey of the composition of official foreign exchange reserves since October 2016.
Via:Singtao-News

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