Chinese currency that will have more value than Dollar

China is building a yuan currency reserve that will compete with the dollar and prop up other economies facing volatility




The People's Bank of China made known it's developing a yuan reserve which includes Indonesia, Malaysia, Hong Kong, Singapore, and Chile. Each nation is contributing 15 billion yuan, about $2.2 billion, to the Renminbi Liquidity Arrangement, China's central bank announced in a statement Saturday. The announcement follows Russia and China's endeavor to initiate a new reserve currency with other BRICS countries, President Vladimir Putin announced last week.


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