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IMF Reports Rise in Australian Dollar and Chinese Yuan Share of Global Reserves

The IMF notes that the proportion of both the Australian dollar and Chinese yuan in worldwide foreign exchange reserves grew by the end of the second quarter.

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Terms & Concepts
  • Foreign Exchange Reserves: Assets held by central banks in different currencies, used to back liabilities and influence monetary policy.
  • Australian Dollar (AUD): The official currency of Australia, also used as a reserve currency in global markets.
  • Chinese Yuan (CNY): The official currency of the People's Republic of China, increasingly used in international trade and reserves.