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2015
Meet the next global currency: the Chinese renminbi, or the ""redback."" Following the global financial crisis of 2008, China's major monetary policy objective is the internationalization of the renminbi, that is, to create an inter-national role for its currency akin to the international role currently played by the U.S. dollar.
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Meet the next global currency: the Chinese renminbi, or the ""redback."" Following the global financial crisis of 2008, China's major monetary policy objective is the internationalization of the renminbi, that is, to create an inter-national role for its currency akin to the international role currently played by the U.S. dollar.
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Appreciating the Renminbi [PDF]
, 2007 International pressure to revalue China’s currency stems in part from the expectation that rapid economic growth should be associated with an underlying real exchange rate appreciation. This hinges on the Balassa-Samuelson hypothesis, which sees growth as stemming from improvements in traded sector productivity and associated rises in wages and non ...
Rod Tyers, Iain Bain
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Internationalising the Renminbi [PDF]
, 2012 The Chinese authorities have introduced reforms over the past few years aimed at increasing the use of the renminbi (RMB) in international trade and investment. This article outlines the recent developments, focusing in particular on the offshore market for RMB and the RMB trade settlement scheme. These initiatives have been supported by the signing of
Lynne Cockerell, Michael Shoory
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SSRN Electronic Journal, 2016
The Renminbi surprised the World markets by its unexpected devaluations first in August 2015 and then in January 2016. Will the Renminbi devalue again? In this paper, the questions of whether the Renminbi is over-valued, whether the level of Chinese official foreign exchange reserves is adequate, and whether a devaluation is in the best interests of ...
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The Renminbi surprised the World markets by its unexpected devaluations first in August 2015 and then in January 2016. Will the Renminbi devalue again? In this paper, the questions of whether the Renminbi is over-valued, whether the level of Chinese official foreign exchange reserves is adequate, and whether a devaluation is in the best interests of ...
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Renminbi Rising: The Inclusion of the Renminbi in the SDR Basket
2018In 2015, the IMF found that the Renminbi met the criteria for inclusion in the SDR basket and the Renminbi became the fifth SDR basket currency with effect from October 1, 2016. This paper reflects on the change from the IMF’s institutional perspective, providing relevant background and insight into the legal aspects of the decision.
Hoang Pham +2 more
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TO RENMINBI OR NOT TO RENMINBI?
Current Digest of the Russian Press, The, 2023openaire +1 more source
Renminbi in ASEAN Economy: How ASEAN responds to Renminbi Internationalization
2019Chinese Yuan Renminbi has been included in IMF Special Drawing Right since the end of 2015. This momentum notified the increasing importance of Renminbi (RMB) as a rising star of international currency. ASEAN plus 3 has responded to RMB internationalization and the Asian financial crisis by the Chiang Mai Initiative of Multilateralization (CMIM).
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Developments in Renminbi Internationalisation [PDF]
, 2013 The ‘internationalisation’ of the Chinese renminbi (RMB) is proceeding at a measured pace, with a sequence of reforms designed to increase its use in international trade and investment. Over the longer term – as the exchange rate becomes more market determined and as capital account liberalisation progresses – the RMB has the potential to become a ...
Alexander Ballantyne +2 more
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