the Chinese yuan will account for 10 percent of world reserves by 2025

According to a survey of the country's central banks, the Chinese yuan will account for 10 percent of world reserves by 2025.

 

The survey says that most of the Reminbi's support will be from Asian monetary1 authorities. 

 

Based on the Central Banking2 Publications survey, the yuan will make up nearly 3 percent of foreign-exchange stockpiles by the end of this year. 

 

It includes responses from 72 monetary authorities with some 6 trillion U.S. dollars in total reserves. 

 

Thirty-five said they either currently hold the yuan or are considering doing so in the future. 

 

The results come as China calls for the International Monetary Fund to include the yuan in the agency's four-currency reserve basket at a review to be conducted later this year. 

 

Inclusion would help the world's second-largest economy challenge the dollar's dominance in global trade and finance. 

 

At the Boao Forum3 for Asia last month, People's Bank of China Governor Zhou Xiaochuan said that China will revamp its foreign-exchange rules "relatively4 radically5" this year, signaling a more relaxed capital policy could be rolled out in the near future.

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