Bank of England Head considers the yuan as a possible reserve currency

Bank of England Chairman Mark Carney said that China’s national currency may in the future be considered as one of the reserve currencies along with the US dollar. However, as the head of the Central Bank clarified, a long period of time is required for such metamorphoses.

M. Carney announced plans to use the yuan as a reserve currency in an online forum organized by the Bank of England to discuss the future of money with the British public.

Earlier, representatives of the Goldman Sachs Group Inc. predicted that the share of the yuan in world currency reserves could increase due to a decrease in the share of the dollar and the yen and by the end of 2022 grow to about 3-4%.

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Source:: The head of the Bank of England considers the yuan as a possible reserve currency