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China's deputy central banker predicts bigger share of euro in world reserves

Euro is set to play a bigger role as a reserve currency for central banks, Wu Xiaoling, vice governor the People's Bank of China, said on Thursday.

Wu Xiaoling, vice governor the People's Bank of China, in her address to the eighth Brussels Economic Forum, said that when a country decides the structure of its foreign reserves, the choice normally relies on which states the country is going to deal with and the strength of the potential reserve currency. „With the economic development of the European Union and the stability of the euro, increasing proportion of euros in reserves of central banks is an inevitable trend,” Wu said. (english.people.com.cn)