(Yicai Global) July 2 -- The Chinese yuan's portion of global currency reserves rose to a historic high in the first quarter, exceeding those of the Australian dollar and the Canadian dollar, according to the International Monetary Fund.

The yuan's share of central bank reserves climbed to 2.02 percent from 1.9 percent from the fourth quarter of last year, which is the highest portion in all IMF data reported since late 2016 when the multilateral organization added the redback to its special drawing rights basket, according to its latest report.

Central banks had boosted their US dollar reserves amid the Covid-19 pandemic to 61.9 percent from 60.8 percent. They held 20 percent of their reserve holdings in euros, slightly lower from the earlier 20.5 percent. The figure for the Japanese yen was basically unchanged at 5.6 percent.

The Australian dollar's share declined to 1.55 percent from 1.62 percent. That of the Canadian dollar fell to 1.78 percent from 1.84 percent.

Editor: Emmi Laine