In the third Q of 2025, just under 2% of all global reserves were held in renminbi, as opposed to just under 60% held in dollars.

Xi Jinping has called for people to utilise the renminbi as a reserve currency more, but this looks like it will take some to achieve.

As the renminbi is second in trade financing & might we see a swing in reserves too?

If so, this may cause the US some difficulties; the 'exorbitant privilege' would be damaged at the very least.

#ReserveCurrency #economics
h/t FT