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RMB

World economy 14th December 2022

Will the dollar lose its exorbitant power to the Euro or the RMB? Not just yet

Alicia García Herrero (Natixis) | The US dollar has officially ruled the international monetary system since the Bretton Woods Agreement in 1944. No other currency has been able to challenge the dollar notwithstanding the ups and down of the US economy both in terms of growth but also inflation. Notwithstanding its overall dominance, things are changing. This is particularly true for the waning share of the US dollar in the…

Markets 25th July 2014

RMB as reserve: Rebalancing the global financial system

By Peter Wong via Caixin | It is unlikely that the RMB or yuan, China’s “people’s currency,” will replace the dollar outright as the world’s only investment and reserve currency any time in the foreseeable future. But there is every indication that the dollar will have to make room for a second global reserve currency within the next 15 years. A revolution allowing investors to diversify risk – and creating a system with more choice and better ability to resist shocks – should be welcomed.