The ECB will discuss next week whether to lay the groundwork to add Chinese yuan to foreign currency reserves, Bloomberg reports.
Governing Council members gathering in Frankfurt for their Oct. 15 mid-month meeting will consider the move, said the people, who asked not to be named because the discussions aren’t public. Should officials eventually decide to buy the currency, initial purchases would be small and might start in a year at the earliest, one of the people said.
The days of yuan undervaluation are slowly coming to an end.
