Javier Guzmán Calafell: The renminbi as a global reserve currency - a central bank perspective

Remarks by Mr Javier Guzmán Calafell, Deputy Governor of the Bank of Mexico, at "The Central Banking Publications' 6th Renminbi Roundtable", Mexico City, 10 May 2017.

The views expressed in this speech are those of the speaker and not the view of the BIS.

I am very glad to have the opportunity to participate in this event. My gratitude to the organizers for their kind invitation.

In recent years, central banks around the world have displayed a growing interest to include assets denominated in currencies from emerging market economies (EMEs) as part of their international reserves. In addition to the continuous search by reserve managers of an adequate balance between risks and returns on their portfolios, this has also been influenced by the improved economic fundamentals and the resilience shown by several of these economies to the difficulties arising from a complicated and, at times, turbulent global environment.