BEIJING - It is
inevitable that the yuan would grow into a global reserve currency one
day, Nigeria Central Bank Governor Lamido Sanusi said on Tuesday.
Sanusi, who is in Beijing, made the remarks a day after he said
that Nigeria's central bank plans to diversify its $33 billion in
foreign exchange reserves away from the dollar by switching a tenth of
the stockpile into yuan.
Sanusi said Standard & Poor's downgrade of its U.S debt
rating last month made it more urgent for Nigeria to diverisfy its
reserves, which are mainly invested in the dollar.
Source: Reuters
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