Briefly

RMB takes record share in forex reserves

The share of the Chinese renminbi in global foreign exchange reserves has climbed to a record high in the fourth quarter of last year, according to the latest data from the International Monetary Fund. Claims in the renminbi accounted for 2.79 percent of the world's allocated reserves as at the end of the fourth quarter, up from 2.66 percent in the third quarter and hitting the highest level since the IMF started to release the reading in 2016. The renminbi's share ranked fifth among all reserve currencies, after the US dollar, the euro, the yen and the pound.

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