PBOC’s Zhou Pushes Case for Yuan as Reserve Currency

Chinese central bank governor Zhou Xiaochuan joined International Monetary Fund Managing Director Christine Lagarde on a panel Sunday about monetary policy and instead discussed the merits of the yuan as a reserve currency.

Zhou and Lagarde were on stage at the China Development Forum in Beijing for a session titled “Sound Monetary Policy in the ‘New Normal’.” The central banker made it clear he had other plans.

“I think I have to research and consider this topic more to give a better talk,” the 67-year-old Zhou said. Instead, since Lagarde was present and the IMF will consider adding the yuan to its Special Drawing Rights system, “I’ll take the chance to talk about this,” he said.

Bloomberg

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