✉news BusinessBanking first seen 6 h ago, last 46 min ago, peak #2
The yuan stalls in its push to become a reserve currency
Original: The yuan stalls as a reserve currency
China's yuan is losing momentum in its effort to become a major global reserve currency. Despite years of Beijing promoting international use of the renminbi, central banks worldwide remain cautious, and the currency's share of global reserves has plateaued. Observers point to capital controls and limited convertibility as key obstacles to wider adoption.
Why now: Renewed attention to whether the yuan can challenge the dollar as central banks weigh reserve diversification.
ChinayuanPeople's Bank of China
Evidence
- The yuan stalls as a reserve currency · GIS Reports
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