Nalm 2013: Debate rages over how to manage expanding reserves
The renminbi does not “meet the conditions of a reserve asset”, and increasing holdings of renminbi reserves by some central banks is more likely a political statement than a genuine reserves asset allocation, according to Andrew Abir, director of market operations at the Bank of Israel.
Abir was discussing the rebalancing of reserve portfolios in the post-crisis world, alongside Feiran Long, a portfolio manager at the Bank of Finland, and Rajendra Pandit, director of foreign exchange management
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