The Libra asset will be backed by 50% US dollars, reported Reuters, citing recent discoveries by Der Spiegel. The tentative distribution of assets backing the Libra digital coin was mentioned in a document acquired by the German magazine.
For now, it is known that the Chinese yuan will not be a part of the currency basket. The other 50% of Libra will be backed by a mix of yen, euro, Singapore dollar and British pound. Each currency will carry a different weight, with the highest share for the euro at 18%, 14% for the pound, 11% for the Singapore dollar and 7% for the Japanese yen.
The exact mix of the currency basket was drafted as an answer in a recent questioning ...