BUDAPEST, April 7 -- The Hungarian National Bank, or the country's central bank, announced Tuesday it decided to build a small bond portfolio denominated in Chinese currency RMB in several steps.
The decision, made after considering the increasing international role of the Chinese RMB is "for economic policy and foreign currency asset diversification purposes," the bank said in a statement posted on its official website.
A small RMB bond portfolio relative to the size of the Bank's reserve assets may be built which would not materially influence foreign exchange reserve adequacy, it added.
The Hungarian National Bank launched its five-pillar RMB Program on Feb. 19 in view of the dynamic process of the RMB becoming an international reserve currency. One pillar is to develop a foreign exchange reserve portfolio.
The bank said that it would inform the general public about the realisation of RMB investments.
J-11 fighters in air exercise
Beauties dancing on the rings
Attendants-to-be join Mr. & Miss Campus Contest
Beijing's toughest anti-smoking law takes effect
Family lives in cave for about 50 years in SW China
PLA soldiers operating vehicle-mounted guns in drill
Blind carpenter in E China's Jiangxi
China hosts overseas disaster relief exercise for the first time
20 pairs of twins who will become flight attendants in Sichuan
Obama is sowing discontent in S.China Sea
Rescuers work through night to reach cruise ship survivors
Driving through limbo
Facing down MERSDay|Week
