The US dollar's share of currency reserves reported to the International Monetary Fund declined in the final quarter of 2017 to a four-year low, as other currencies' shares of reserves grew according to data.
US dollar's share fell in the fourth quarter to 62.7 percent from 63.5 percent in the third quarter of 2017, the data released on Friday showed.
The share of US dollar reserves declined to its smallest level since reaching 61.24 per cent in the fourth quarter of 2013, according to IMF data.
The data also indicated that the Euro's share in Global Currency reserves was the largest since the fourth quarter of 2014, and the yen's share of currency reserves rebounded from a dip in the third quarter to 4.89 per cent, which was its biggest since the fourth quarter of 2002.
China's share of allocated currency reserves was 1.23 per cent, up from 1.12 per cent from the prior quarter. The IMF had reported the yuan's share of central bank holdings for the first time in the fourth quarter of 2016.
China’s top five lenders have raked in bigger annual profits and expect business conditions to continue improving this year, as Beijing’s crackdown on shadow financing and high leverage makes core banking more profitable.
The Thomson Reuters/HKEX Global CNH index, which tracks the offshore yuan against a basket of currencies on a daily basis, stood at 97,9.
