FX Invest Europe: Renminbi could overtake euro as alternative reserve currency
The renminbi has a real shot at overtaking the euro to become an alternative reserve currency, according to panellists at the FX Invest Europe conference in Zurich on March 8.
"If I had to put a chance on competing between reserve currencies, I'd put my money on renminbi rather than the euro. For the euro to become an alternative asset, it first and foremost needs a homogenous bond market. Political issues in Europe will hinder the development of the EU bond market," said Luca Bindelli, director
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