Chinese Yuan Surpasses The Euro To Become Brazil's Second-Largest Reserve Currency

The Chinese yuan has become the second most abundant currency in Brazil's foreign reserves, overtaking the euro just a few days after China started dealing with its own currency.

The yuan now accounts for 5.37% of Brazilian central bank holdings, while the euro holds a 4.74% share. However, the US dollar still dominates, making up 80.42% of Brazil's total foreign reserves in 2022.