Israel Adds China’s Yuan to Its Foreign Currency Reserves
Strait Talk
English - April 26, 2022 16:30 - 11 minutes - ★★★★★ - 2 ratingsNews turkey erdogan political affairs middle east discussions interviews politics middle east and africa debates Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
Previous Episode: Turkish Foreign Minister on Six-Nation Latin America tour
Israel's central bank will add the Chinese yuan to its currency reserves for the first time. According to its central bank, two percent of the country's current 200 billion dollars in foreign cash will be dedicated to the yuan. Israel says the policy transition is a conceptual shift in which it will hold multiple currencies. However, the yuan's entry comes at the expense of the euro and the dollar. And Israel isn't the only country aiming to broaden its portfolio. According to a recent IMF poll, the US dollar's proportion of global currency reserves fell to its lowest level since 1995 at the end of last year.
Guests:
Dan Catarivas
Director General of International Relations at MAI
Einar Tangen
Political Analyst