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UBS believes the RMB could account for 10% of global reserves
GateNews
PANews January 23 News, UBS Asset Management stated that if investors increase portfolio diversification amid growing concerns over US policies, China will benefit from it. Maximiliano Castellini, Head of Global Sovereign Market Strategy at the company, said that if tensions involving the United States escalate—such as increased pressure on the US bond market, rising attacks on the Federal Reserve, and a weakening of US credibility—the target proportion of the renminbi in global central bank foreign exchange reserves could rise to approximately 10% in the medium term.
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