27.02.2014 17:59
YEREVAN, February 27. / ARKA /. The tightly controlled Chinese yuan will eventually supersede the dollar as the top international reserve currency, according to a new poll of institutional investors, RBC reports citing the U.S. CNBC TV channel.
The survey of 200 institutional investors - 100 headquartered in mainland China and 100 outside of it - published by State Street and the Economist Intelligence Unit on Thursday found 53 percent of investors think the renminbi will surpass the U.S. dollar as the world's major reserve currency.
Optimism was higher within China, where 62 percent said they saw a redback world on the horizon, compared with 43 percent outside China.
"As China's economic influence grows, the global importance of the renminbi will become magnified. Indeed, while for decades it has been a 'greenback world', dominated by the U.S. dollar as the world's primary reserve currency, many think a 'redback world', in which the renminbi enjoys premier status, is increasingly a possibility," the report accompanying the survey said.
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