ING’s Gupta: Yuan to become reserve currency in two years
Pranay Gupta said the yuan will continue to appreciate despite as China seeks to control inflation and assets continue to move away from developed markets.
"For the moment therefore, despite what happened in the CNY last week, one should rule out sudden revaluations of the CNY in favour of continued gradual appreciation. What is happening however as a result of the US and European crisis, is a much faster pace at which the CNY will become a core reserve currency, and acquire safe haven status,"
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