Central banks face challenges in diversifying reserves

Gold could gain in popularity despite carbon challenges as renminbi faces problems, panellists say


Gold could gain in importance as a reserve asset despite its carbon profile, some panellists at the Central Banking Summer Meetings said on June 13.

Renminbi is losing popularity, given operational challenges and a sluggish Chinese economy, other panellists said.

An asset management specialist from an international financial institution said central banks now wanted sustainability from their reserves, alongside safety, liquidity and return.

But this presented a two-fold challenge: how could a

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