It accounts for 4% of foreign-exchange reserves, compared with 66% for the dollar and 25% for the euro.

ECONOMIST: Sterling strength: Reserve power | The

Under the new rules, investors will not require approval for opening foreign currency accounts or for re-investing foreign exchange earnings.

BBC: Chinese yuan notes

The published figures for the breakdown of reserves by currency omit China, even though the country accounts for a fifth of foreign-exchange reserves.

ECONOMIST: Sterling strength: Reserve power | The

The alternative, a foreign-owned holding company, must operate under tight restrictions that forbid, for example, inter-company loans, foreign-exchange balancing, import-export, or even consolidated accounts across the subsidiaries.

ECONOMIST: Kodak in China: Smile, please | The

The dollar accounts for some two-thirds of global foreign-exchange reserves.

ECONOMIST: Intervention: divine or comic?