Following a statement by one of the members of the leadership of the central bank of Germany about keeping part of the country’s foreign exchange reserves in Chinese yuan as a measure for diversification, a similar statement was made by the Bank of France.
The statement of the French Central Bank notes that most of the reserves remain in US dollars, but the yuan is included in the “limited list of currencies”, which also contain foreign exchange reserves. This was reported by the Reuters agency with reference to the statement of the Bank of France.
“The bulk of foreign exchange reserves remain in US dollars, with diversification into a limited number of international currencies, such as the Chinese yuan.”
Earlier in his speech at the Asian financial forum in Hong Kong, Andreas Dombra, a member of the governing board of the Bundesbank, reported that the German Central Bank keeps some of the foreign exchange reserves in Chinese currency.
In an interview with Bloomberg on the sidelines of the forum, he said that the decision to include the yuan in the number of currencies in which the currency reserves of the FRG are stored was “about mid-2017”