Tag Archives: reserve currency

China Finally Reveals Gold Holdings

After six years, China finally revealed its “total” gold hoard today in a statement issued by the PBOC (People’s Bank of China). The grand total? 1,658 metric tons, placing the country in 5th place worldwide. It’s an increase of more … Continue reading

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Currency Wars Intensify; China Declares Renminbi the “New World Currency”

Day by day, the currency wars continue to heat up. With the European Central Bank’s Quantitative Easing program now underway and the end of the euro in sight, many other countries around the world have joined the race to the … Continue reading

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Head of China’s Central Bank Says Some Countries Already Using Yuan as Reserve Currency

Zhou Xiaochuan,  the governor of the Central Bank of China revealed in an interview with Bloomberg this week that the yuan is already being used as a reserve currency by some countries, though they “may not be willing to say so.” … Continue reading

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Is the Dollar Doomed? U.K. Issues First Yuan-Denominated Bond for Currency Reserves

On Friday, the U.K. government announced plans to issue the world’s first non-Chinese sovereign bond denominated in the renminbi.  The landmark move leads the way in establishing the Chinese yuan, or renminbi, as an international reserve currency and could be … Continue reading

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