China’s RMB becomes Brazil’s second-largest international reserve currency

  1. Home /
    2. News & Feeds /
  2. China’s RMB becomes Brazil’s second-largest international reserve currency
China’s RMB becomes Brazil’s second-largest international reserve currency
News & Feeds

China’s RMB becomes Brazil’s second-largest international reserve currency

The Central Bank of Brazil announced on Friday that the Chinese currency renminbi (RMB), or the yuan, has surpassed the euro to become the country’s second-largest international reserve currency. According to the “International Reserve Management Report” released by the central bank on its official website, the increase of the RMB’s share in Brazil’s international exchange reserves reflects the deepening economic ties between Brazil and its largest trading partner — China. The report said that by the end of 2022, the proportion of the RMB in Brazil’s international exchange reserves had reached 5.37 percent,

Read More….

http://www.ecns.cn/news/economy/2023-04-01/detail-ihcncxmu0176657.shtml