Total bullshit for this reason: the Yuan is not a free floating currency like the US Dollar or the Euro as example of two reserve currencies.
The Yuan value is set by the Chinese government.
Quote:
In China's case, the country's central bank has adjusted the daily trading band for the yuan, which is allowed to fluctuate 2% above or below a rate set by the People's Bank of China.
The basis on which the government had fixed the daily exchange rate has been a secret, though significant capital outflows in recent months have suggested that the yuan should be losing value and it hasn't.
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Why China's devaluation of the yuan matters so much - LA Times
That is not worth a fuck as a reserve currency. Until it is allowed to float at market value.
How's the ruble doing?
