Reuters quotes the Atlantic Council report RENMINBI ASCENDING: How China’s Currency Impacts Global Markets, Foreign Policy, and Transatlantic Financial Regulation in an article about the Mongolian government’s sale of an offshore yuan bond:

“Central banks have recognized the trend toward an increasingly multicurrency system and have consequently worked to diversify their sovereign balance sheet,” the Atlantic Council, a Washington-based international affairs think-tank said in a report issued Monday.


Interest in yuan assets will likely increase as China further promotes its “one belt one road” strategy and aims to get the yuan included in the International Monetary Fund’s Special Drawing Rights(SDR) basket later this year.

“Currencies that count toward the SDR enjoy extra legitimacy, bolstering demand for them among central banks,” the Atlantic Council said.

Read the full article here.

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