Geopolitical Update: China Is Building A Yuan Currency Reserve

The People’s Bank of China is building a yuan reserve with five other nations in collaboration with the Bank for International Settlements. The countries China is teaming up are Indonesia, Malaysia, Hong Kong, Singapore, and Chile. Each of the countries will contribute 15 billion yuan — about $2.2 billion — to a Renminbi Liquidity Arrangement, China’s central bank said in[Read More...]

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