January 15, 2018 / 6:26 PM / a year ago

Bank of France currency reserves partly held in Chinese yuan

PARIS, Jan 15 (Reuters) - The Bank of France said on Monday it already held some currency reserves in yuan, hours after the German central bank said it was looking to move some of its reserves into the Chinese currency.

“Currency reserves remain in their vast majority invested in U.S. dollar, with a diversification towards a limited number of international currencies such as the Chinese renminbi,” the bank said in a statement.

The yuan leapt to its strongest level in more than two years against the dollar on Monday, buoyed by the Bundesbank’s comment.

The French central bank said it would not reveal a breakdown of its reserves, and did not say when it first included the yuan. (Reporting by Yann Le Guernigou and Michel Rose; editing by John Stonestreet)

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