How Much Gold Will China Need To Make The Yuan A Gold Backed Currency?

Name: How Much Gold Will China Need To Make The Yuan A Gold Backed Currency?
SKU: 6015
Price: 50.00 EUR
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€50.00

Ever wonder who has been buying gold? The secret’s out now…it’s the central banks, in a move to thin down their foreign exchange reserves holdings of US Dollar during a fierce dedolarization wave. We look at how much China needs to buy to gain credibility for the Yuan as a gold backed currency.

Categories: China, Foreign Exchange

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As dedollarization speeds up, the elephant in the room is what to do with the US dollar reserves a country has backing up its own currency. Will they go to the gold standard? Or peg to a non-Dollar currency? In this first part of this three parter, we look at how much gold a country has to buy to credibly make its own currency a gold-backed on, based on the latest historical practice.