The renminbi, the Chinese currency, is now in second place among Brazil’s international reserves, beating the euro.
The data is in the latest Central Bank (BC) report, published on Friday, the 31.
“In December 2022, the allocation of reserves by currency was as follows: 80.42% in US dollar (USD), 5.37% in renminbi (CNY), 4.74% in euro (EUR), 3.15% in pound sterling (GBP), 2.52% in gold, 1.86% in yen (JPY), 1.01% in Canadian dollar (CAD) and 0.92% in Australian dollar (AUD),” informed the monetary authority.
The renminbi’s rise is recent. The Chinese currency did not even figure among Brazil’s reserves in the BC report until the composition referring to the end of 2021, when it appeared with a share of 4.99%, just behind the euro.
In 2021, the dollar was also ranked first in this ranking. In both reports, the volume of the US currency remained practically stable. However, other years show that money in circulation in the United States is losing ground.
In December 2020, the end of the first year of the pandemic, the dollar share reached 86%. And in the same period in 2019 – before the coronavirus left China – the US currency share was almost 90%.