Ukraine to Use China’s Yuan in Reserves, Kommersant Reports

Ukraine’s central bank will add China’s yuan to its foreign-currency reserves to diversify them, Kommersant-Ukraine newspaper reported, citing a person familiar with the matter in the central bank.

The Natsionalnyi Bank Ukrainy reached agreement with the People’s Bank of China to carry currency swaps, according to Kommersant. Ukraine wants the amount of yuan in its reserves to 30 percent of trade turnover with China, or $2.5 billion, the newspaper reported.

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