Broaden renminbi use to curb dollar influence: ex-HKMA’s Yam

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Expanding the renminbi's role as a reserve currency is pivotal in checking the dominance of the dollar and strengthening the international monetary system, Joseph Yam, the former chief executive of the Hong Kong Monetary Authority (HKMA), said Wednesday.

In remarks to a forum in Beijing reported by Dow Jones Newswires, Yam said pragmatism dictated that the best way to strengthen the international system was to expand the range of common reserve currencies. "With the euro and the yen, to varying

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