Singapore's central bank said on Wednesday it will include yuan financial investments in official foreign reserves from June.

The move underscores the growing acceptance of yuan assets in the global portfolio of institutional investors.

The Monetary Authority of Singapore said it has been making yuan financial investments through China's qualified foreign institutional investor and interbank bond market schemes since 2012.

Experts say the decision to include the yuan in its official foreign reserves may increase the incentive for Singapore's central bank to boost investments in the yuan.