RMB — The Third Major Reserve Currency

Chi Lo

Chapter 9 in The Renminbi Rises, 2013, pp 145-161 from Palgrave Macmillan

Abstract: Abstract Conventional wisdom has it that a currency will achieve a global reserve currency status after it is fully internationalised. That is, a global reserve currency status only comes after the currency can be freely used for all international transactions. China has proven this wrong. The yuan is not yet fully convertible. But by definition, it has become a reserve currency, as it is already held by some central banks as a reserve asset.

Keywords: Central Bank; Reserve Currency; Reserve Manager; Asian Currency; Swiss National Bank (search for similar items in EconPapers)
Date: 2013
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-34625-4_9

Ordering information: This item can be ordered from
http://www.palgrave.com/9781137346254

DOI: 10.1057/9781137346254_9

Access Statistics for this chapter

More chapters in Palgrave Macmillan Books from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().