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Sovereign Wealth Funds Briefing - Categorized | Market, Reserve Currencies, Trends

China to add emerging-market currencies to reserves

Posted on 12 October 2010

From Bloomberg: China is moving to add more emerging-market currencies to its foreign-exchange reserves, a strategy central banks around the world are following to diversify their $8.7 trillion in holdings. China is the biggest holder of U.S. Treasuries, with $846.7 billion in August. It started a sovereign wealth fund, China Investment Corp., in September 2007 to help diversify the reserves to generate better returns.
“We can diversify more the foreign reserves, to consider not only smaller countries, but some emerging-market economies,” central bank Governor Zhou Xiaochuan said……………………………………….Full Article: Source

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