Business & Finance

Bundesbank has not yet purchased any Chinese yuan

Published January 15, 2018 Updated January 15, 2018 12:45pm

The decision to place some reserves in yuan, also known as renminbi, was made in the summer of 2017, the spokeswoman added.

The comments come after Bundesbank board member Andreas Dombret unexpectedly announced on Monday that the Bundesbank would include the yuan in its reserves.

The European Central Bank already converted 500 million euros worth of its US dollar reserves into yuan last year but national central banks under the ECB made independent decisions on the composition of their reserves.

 

Copyright Reuters, 2018