World Bank: yuan to become alternative reserve currency - News

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World Bank: yuan to become alternative reserve currency

By: AFX | 10 Nov 2009 | 09:34 PM ET

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SINGAPORE, Nov 11 (Reuters) - World Bank President Robert Zoellick said on Wednesday that the U.S. dollar's role as a reserve currency was "relatively secure", but the Chinese yuan will provide an alternative over time. "Over the next 10-15 years, you will firstly see renminbi to be internationalised and provide an alternative," he said at a World Bank conference in Singapore. Zoellick also said the U.S. should not be complacent about the dollar. (Reporting by Kevin Lim and Kevin Yao; Editing by Neil Chatterjee) ((kevin.lim@thomsonreuters.com; +65 6403 5663; Reuters Messaging: kevin.lim.reuters.com@reuters.net)) Keywords: WORLDBANK/ (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved.

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