Pharaoh
Brigadier General
- Messages
- 20,308
Looks like China's plan for dumping the dollar..., er, I mean diversifying its holdings of foreign reserves are continuing.
Looks like the plan is to continue gradually, since if China dumped all it's dollar holdings (estimated to be somewhere around 2 trillion USD) at once, things would be unpleasant.
Further, although China says they don't want the Yuan to appreciate suddenly, "The market conditions for two-way movement of the yuan exchange rate are gradually coming into existence.
Dollar holdings risky - SAFE official
Looks like the plan is to continue gradually, since if China dumped all it's dollar holdings (estimated to be somewhere around 2 trillion USD) at once, things would be unpleasant.
Further, although China says they don't want the Yuan to appreciate suddenly, "The market conditions for two-way movement of the yuan exchange rate are gradually coming into existence.
Dollar holdings risky - SAFE official