Yuan set for reserve currency status, Bloomberg finds
Chinese renminbi is expected to become a reserve currency of choice in the future, according to 69% of respondents to a major survey of the foreign exchange market carried out by Bloomberg and published today.
According to the findings of the survey, which were collected at Bloomberg's FX11 summit in London on June 9, the yuan could become a reserve currency but the timeframe is still unclear, with 10% of those positive respondents expecting it to happen in less than five years, 32% expecting it
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