World Bank: yuan to become alternative reserve currency

SINGAPORE | Tue Nov 10, 2009 9:19pm EST

SINGAPORE Nov 11 (Reuters) - World Bank President Robert Zoellick said on Wednesday that the U.S. dollar's role as a reserve currency was "relatively secure", but the Chinese yuan will provide an alternative over time.

"Over the next 10-15 years, you will firstly see renminbi to be internationalised and provide an alternative," he said at a World Bank conference in Singapore.

Zoellick also said the U.S. should not be complacent about the dollar. (Reporting by Kevin Lim and Kevin Yao; Editing by Neil Chatterjee)

Currencies
Bonds News
Bonds
Markets
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.