Israel adds yuan to $206 billion reserves in ‘philosophy’ change

YahooFinance/Daniel Avis/4-20-2022

“Starting this year, the currency mix will expand from the trio of the U.S. dollar, the euro and the British pound to include the Canadian and Australian dollars as well as the yen and the yuan, which is also known as the renminbi. The additions mark a change in the Bank of Israel’s ‘whole investment guidelines and philosophy,’ Deputy Governor Andrew Abir said in an interview.”

USAGOLD note: Is this the shape of things to come? There is little doubt that Israel’s example will be taken seriously by emerging country central banks. Some analysts have suggested that eventually gold will come into play as central bank reserve diversification proceeds.