RMB ranks fifth among world forex reserve currencies

The share of the Chinese renminbi in global foreign exchange reserves stood at 2.69 percent in the fourth quarter of last year, ranking fifth among major currencies, the International Monetary Fund said.

Claims in the renminbi accounted for 2.69 percent of the world's allocated reserves as of the last quarter of 2022, compared with 2.75 percent in the third quarter, data updated by the IMF's Currency Composition of Official Foreign Exchange Reserves database showed on Friday.

In absolute terms, claims in the renminbi came in at $298.44 billion as of the fourth quarter of last year, up from $296.03 billion a quarter earlier.

The renminbi's share ranked fifth among all reserve currencies, following the US dollar, the euro, the Japanese yen and the British pound. The dollar's share in allocated reserves came in at 58.36 percent in the fourth quarter, down from 59.79 percent in the third.