This is the first in a series on China’s currency, the renminbi. Once posted, you will be able to find all the posts here.
China is in the middle of a push to “internationalize” the renminbi, signified by a successful push to add the currency to the special drawing rights (SDR) basket of the International Monetary Fund (IMF). The international use of China’s currency is rising, although it is still just the fifth most used currency worldwide and represents only around 2.5 percent of global payments, according to the Society for Worldwide Interbank Financial Telecommunication (SWIFT). China’s currency has been all over the news lately for other reasons, from charges of currency manipulation by US presidential candidates toconcerns China will significantly devalue its currency in an attempt to boost exports. This series of blog posts begins by examining the overall picture of China’s currency, the renminbi (RMB), followed by posts focusing on whether it is overvalued, where China’s exchange rate policy may go, and offshore trading of the renminbi (CNH). Read more