Chinese currency dethrones euro in Brazil

The Chinese currency renminbi, or the yuan, has surpassed the euro to become Brazil's second-largest international reserve currency, according to a report of the Banco Central do Brasil, the Brazilian central bank.

The proportion of the renminbi in Brazil's international exchange reserves had reached 5.37 percent by the end of 2022, exceeding the proportion of the euro at 4.74 percent and up from 4.99 percent a year earlier, the report said on Friday.