Bundesbank Says It'll Add China's Yuan to Currency Reserves

German central bank’s step follows ECB inclusion in June 2017
Dombret cites increasing trade links boosting yuan’s role

Deutsche Bundesbank’s Andreas Dombret discusses currencies and talks about the European economy.(Source: Bloomberg)

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By Jeff Black, Stephen Engle, and Enda Curran

January 15, 2018 at 4:50 AM UTC

Updated on

January 15, 2018 at 12:28 PM UTC

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Germany’s central bank has decided to include the Chinese yuan in its own reserves, in a further boost to the international status of the currency.

Speaking at an event in Hong Kong on Monday, Bundesbank board member Andreas Dombret said the decision was taken last year following an investment of 500 million euros ($611 million) by the European Central Bank, of which the German authority is a part. He said he wouldn’t comment on the amount that would be allocated.