For Traders

Analytical Reviews

News

11.01.201907:33 Forex Analysis & Reviews: The head of the Bank of England considers the yuan as a possible reserve currency

Long-term review

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Bank of England Chairman Mark Carney said that China's national currency may in the future be considered as one of the reserve currencies along with the US dollar. However, as the head of the Central Bank clarified, a long period of time is required for such metamorphoses.

M. Carney announced plans to use the yuan as a reserve currency in an online forum organized by the Bank of England to discuss the future of money with the British public.

Earlier, representatives of the Goldman Sachs Group Inc. predicted that the share of the yuan in world currency reserves could increase due to a decrease in the share of the dollar and the yen and by the end of 2022 grow to about 3-4%.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.