The proportion of RMB in the central bank's foreign reserves has increased significantly
Xinhua| It rose to 4.99%, the highest level since the yuan entered its currency basket in 2019.
The report also showed that the US dollar’s share in Brazil’s foreign exchange reserves fell by 5.69 percentage points compared to 2020 to 80.34%, the lowest level since 2014; the share of the euro also declined, from 7.85% in 2020 to 5.04% in 2021 .
The report noted that the yields on assets denominated in yuan were higher than those denominated in dollars.
Brazil's "Economic Value" pointed out that in the context of increasing inflationary pressure and tightening monetary policy in some major economies around the world, the Central Bank of Brazil increased the share of RMB in Brazil's foreign exchange reserves.
Local economists said the renminbi's share in global foreign exchange reserves is on the rise.