IMF First China Foreign Currency Report Puts Reserves at $10.8Trln

China’s reserves of foreign currency exceeded $10 trillion at the end of 2016, according to the first-ever official account by the International Monetary Fund (IMF), which was published on Friday.

WASHINGTON (Sputnik) — Prior to Friday’s report, IMF currency data was limited to the US dollar, euro, Japanese yen, UK pound sterling, Australian dollar, Canadian dollar and Swiss franc, and an indistinguishable category of "other currencies."

"With the separate identification of reserves in RMB [Renminbi], eight currencies are now distinguished," the IMF publication stated.

Chinese holdings of US dollars were $5.1 trillion at the end of 2016, compared with $10.8 trillion in total foreign currency reserves, the report explained.

The remainder was divided among other currencies, with euro holdings the largest at $1.6 trillion, according to the IMF.