Vladimír Urbánek (Kurzy.cz)
Currencies  |  October 11, 2010 15:36:38

China intends to diversify more of its foreign reserves towards emerging currencies

According to China's central bank governor Zhou intends Xiyochuana most populous country in the world more to diversify its foreign exchange reserves towards the currencies of some emerging economies. With diversification in this direction is indeed associated with higher risk but also increased yield. For example, China's central bank this year has about tripled its position in the South Korean government bonds to a total of 5.15 trillion won = about 4.6 mld.USD.

Currencies of most emerging economies in the last month significantly strengthened. Indian rupee against the dollar have improved their sales by 4.7%, the Brazilian real 3.3%, the Chinese yuan by 1.7%, the South Korean won 4.2% and 4.8% of the Mexican peso.

The announced desire for experts consider quite logical and prudent. The importance and quality of the emerging economies in recent years significantly increased.According to IMF statistics external debt of developing countries declined from the level of 41% of GDP in 1999 to about 26% of current GDP. Evaluated the Brazilian real against the dollar since 2001 by 61%, Thai bath and Colombian peso have improved by about 30%. For comparison the same time the euro has strengthened against the dollar by 3.5%.

China's foreign exchange reserves last year increased by 15% to 2.5 trillion dollars. Approximately 846.7 mld.USD is stored in U.S. government bonds, which fits into China's creditor position of U.S. No. 1

China has recently also looking to strengthen the role of the yuan as a reserve currency and vypořádávací foreign trade and international financial transactions.

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Čína hodlá více diverzifikovat své devizové rezervy směrem k emerging currencies

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