With Beijing pushing for greater use of the yuan internationally, the Chinese currency could rise to the status of the world’s third-largest reserve currency in 10 years, according to a forecast by Morgan Stanley.
The share of the yuan in global foreign exchange reserve assets could more than double from its current level of two percent and surpass the share of the Japanese yen and the British pound, the bank’s analysts said in a report released on Friday, cited by CNBC.
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