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Malaysia buys RMB bonds

09-21-2010 13:58 BJT

Malaysia's central bank has bought renminbi-denominated bonds for its reserves. Analysts say, this marks a significant advance for China's efforts to internationalize the use of its currency. Usually, only a few currencies like the U.S. dollar, euro and Japanese yen are bought as a country's forex reserves.

In August this year, China opened its domestic interbank bond market to foreign central banks that have access to renminbi, through a series of bilateral currency swaps totaling 800 billion yuan.

Editor:Xiong Qu |Source: CNTV.CN

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