Bank of France currency reserves partly held in Chinese yuan

By Kitco News / January 15, 2018 / www.kitco.com / Article Link

PARIS, Jan 15 (Reuters) - The Bank of France said on Monday it already held some currency reserves in yuan, hours after the German central bank said it was looking to move some of its reserves into the Chinese currency.

"Currency reserves remain in their vast majority invested in U.S. dollar, with a diversification towards a limited number of international currencies such as the Chinese renminbi," the bank said in a statement.

The yuan leapt to its strongest level in more than two years against the dollar on Monday, buoyed by the Bundesbank's comment. The French central bank said it would not reveal a breakdown of its reserves, and did not say when it first included the yuan.


(Reporting by Yann Le Guernigou and Michel Rose; editing by John Stonestreet)

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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