US EditionChina’s Yuan Set to Benefit as Central Banks Report Doubts About US Dollar
- A June 2025 survey from the London-based think tank OMFIF indicates that central banks are increasingly uncertain about the US dollar's status as the leading global reserve currency.
- This shift results from US policy uncertainty and geopolitical tensions, while China and Europe accelerate efforts to promote alternatives like the yuan and euro.
- China has expanded yuan-linked financial products, including allowing foreign investors to trade more futures and waiving fees for bond market access, aiming to increase yuan usage.
- The survey found that over 30% of central banks plan to raise yuan holdings in the next decade, while the yuan has strengthened 2% against the dollar this year despite some recent losses.
- These developments suggest the yuan may gain ground as a reserve currency, but uncertainties remain as China has yet to prove itself a fully dependable alternative to the dollar.
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NBC Chicago+5 Reposted by 5 other sources
China doubles down on promoting yuan as confidence in U.S. dollar takes a beating
From expanding investment channels to building digital infrastructure, Beijing has been laying the groundwork to promote international use of its currency.
·Chicago, United States
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Coverage Details
Total News Sources22
Leaning Left3Leaning Right2Center6Last UpdatedBias Distribution55% Center
Bias Distribution
- 55% of the sources are Center
55% Center
L 27%
C 55%
R 18%
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