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China’s Digital Yuan Won’t Topple Dollar, BOJ Official Says

  • Dollar likely to stay main reserve currency, Kamiyama says
  • BOJ last week started experiments on a digital currency
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WATCH: Kazushige Kamiyama, head of the BOJ’s payment systems department, discusses the future of digital currencies.(Source: Bloomberg)
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A senior Bank of Japan official played down the potential for China’s digital yuan to threaten the dollar’s position as the world’s main reserve currency.

“The dollar’s status as the key global currency won’t change so easily,” said Kazushige Kamiyama, head of the BOJ’s payment systems department and the person in charge of looking into a virtual Japanese currency. “In fact, the dollar’s advantage may strengthen further if the U.S. goes with digitalization.”