(Yicai Global) April 1 -- Central banks around the globe have boosted their yuan-denominated assets while increasing the convertibility of the Chinese currency.
The yuan's share of global forex reserves rose to nearly 1.9 percent of the total of USD10.7 trillion in the fourth quarter, exceeding those of the Australian dollar and the Canadian dollar, the International Monetary Fund's latest quarterly report on forex reserves shows.
The addition shows how global currency reserve management institutions have become increasingly interested in the yuan after the redback was included in the IMF Special Drawing Rights basket, state-backed China Central Television reported, citing an analyst.
Reserves held in US dollar declined to nearly 62 percent, falling for the third consecutive quarter. Euro assets rose to almost 21 percent, the highest since the fourth quarter of 2014.
The IMF's forex document is based on data from nearly 150 countries or regions that voluntarily report their holdings of foreign reserves to the IMF.
Editor: Emmi Laine