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Hungary Central Bank: Mulls Holding Forex Reserves in Chinese Yuan | Hungarian Chamber of Commerce

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Hungary Central Bank: Mulls Holding Forex Reserves in Chinese Yuan

Author: HA | February 19. 2015.

Nasdaq / By Margit Fehér

The Hungarian central bank will this year look into whether it should hold foreign currency reserves and offer a liquidity tool in the Chinese yuan to tackle market turmoil, it said on Thursday.  The move is part of the Budapest Renminbi Initiative which is aimed at expanding Hungary's financing resources, establishing related foreign exchange and capital markets infrastructure. More...