Bank of Korea to invest in renminbi in 2012
Head of reserve management Heung Sik Choo confirms Bank of Korea will make first investments in Chinese renminbi this year
A senior official from the Bank of Korea has revealed the central bank is set to invest in Chinese renminbi in 2012.
In an interview in the book RBS Reserve Management Trends 2012, to be published by Central Banking Publications today, the head of reserve management at the central bank, Heung Sik Choo, says: "We will start to invest in the renminbi this year. We will invest in bonds first and equities later."
The move is part of a shift to look at emerging market currencies, not traditionally
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