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Home>Coins dealers headline>ECB shifts some reserves to yuan from U.S. dollars

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ECB shifts some reserves to yuan from U.S. dollars

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USA Gold

Published : June 16th, 2017

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Category : Coins dealers headline


	Reuters/Balazs Koranyi/06-13-17 The European Central Bank has switched 500 million euros worth of its U.S. dollar reserves to yuan, reflecting the increased use of the Chinese currency and Beijing’s importance as one of the euro area’s largest trading partners, it said on Tuesday. “The ECB sold a small portion of its US dollar holdings, which remain the largest portfolio, leaving the overall size of the ECB’s foreign reserves unchanged. “The ECB’s foreign reserves now comprise US dollars, Japanese yen, Chinese renminbi, gold and SDRs.

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