The renminbi is approaching its final frontier: full convertibility and transformation into a “normal” currency used by companies and individuals worldwide in the same way the US dollar is today.
The renminbi’s journey as a trade and investment currency over the past decade has been rapid and remarkable – and with reforms and international usage continuing to grow apace, full convertibility is now in sight. Just last December, China began publishing a new index measuring the renminbi’s performance against a basket of trade-weighted currencies, highlighting that it was no longer “pegged” to the dollar...............................................Full Article: Source
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