The Philippine central bank on Wednesday said it may increase its holdings of Chinese yuan assets to diversify its sources of foreign exchange reserves after the International Monetary Fund (IMF) added the renminbi to its reserves basket.
Policymakers may also consider purchasing more yuan bonds, including those of longer tenors, as they become available, Bangko Sentral ng Pilipinas Governor Amando Tetangco told Reuters in a mobile phone message.
On Monday, the IMF admitted China's yuan, also called the renminbi, into its benchmark currency basket, in a victory for Beijing's campaign for recognition as a global economic power.
source: www.abs-cbnnews.com
