PBOC says yuan will gradually emerge as a reserve currency

Author: Mike Paterson | Category: Central Banks

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.