PBOC says yuan will gradually emerge as a reserve currency
China's central bank out with a statement 18 Oct
- scope of useage for the yuan globally will expand
- will push forward yuan internalisation, keep yuan's stable position in global monetary system
- sees yuan' payment instruction to strengthen
- yuan cross-border fin trading to keep rising
Plenty of noise out of China this week as the 5-year congress gets underway.
Eamonn had a few more headers here as yuan feels some early congress love but gains paring now as I type.