2018年CRI Germany to add China's yuan to currency reserves

 

Germany's central bank says it has decided¹ to add the Chinese currency into its foreign exchange reserves.

The Bundesbank says the decision was made last year after the European Central Bank (ECB) switched 500 million euros worth of its US dollar reserves into the yuan.

Bundesbank officials say the decision to accept the renminbi "reflects the growing role of the Chinese currency in the world financial system."

Meantime, the Bank of France has also confirmed that it is holding the Chinese currency as part of its reserves.

In September 2016, the currency joined the dollar, pound, yen² and euro in the IMF's "Special Drawing Rights" reserve currency basket, becoming the first currency to be added to the list since the emergence³ of the euro in 1999.

With more on this, CRI's Paul James spoke⁴ with John Ross, Senior Fellow with Chongyang Institute for Financial Studies at Renmin University.

1 decided   

adj.决定了的，坚决的；明显的，明确的

参考例句：

• This gave them a decided advantage over their opponents.这使他们比对手具有明显的优势。
• There is a decided difference between British and Chinese way of greeting.英国人和中国人打招呼的方式有很明显的区别。

2 yen   

n. 日元；热望

参考例句：

• He wanted to convert his dollars into Japanese yen.他想将美元换成日币。
• He has a yen to be alone in a boat.他渴望独自呆在一条船上。

3 emergence   

n.浮现，显现，出现，（植物）突出体

参考例句：

• The last decade saw the emergence of a dynamic economy.最近10年见证了经济增长的姿态。
• Language emerges and develops with the emergence and development of society.语言是随着社会的产生而产生，随着社会的发展而发展的。

4 spoke   

n.（车轮的）辐条；轮辐；破坏某人的计划；阻挠某人的行动 v.讲，谈（speak的过去式）；说；演说；从某种观点来说

参考例句：

• They sourced the spoke nuts from our company.他们的轮辐螺帽是从我们公司获得的。
• The spokes of a wheel are the bars that connect the outer ring to the centre.辐条是轮子上连接外圈与中心的条棒。