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From Greenback to Redback: The Journey of Renminbi from Local Circulation to Reserve Currency

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Investing in Asian Offshore Currency Markets

Part of the book series: Global Financial Markets ((GFM))

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Abstract

Considering the fact that renminbi only began its maiden journey from local circulation to an emerging currency for international trade settlement, cross-border investment and foreign-reserve management less than four years ago, the achievements of renminbi have truly been impressive.

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Notes

  1. Zhu Yanlai et al. The Internationalization of Renminbi and New Opportunities for Hong Kong, 1st edition, Hong Kong: Hong Kong Economic Journal Company Limited, 2011.

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  2. Song Hongbing. Currency Wars III: National Strategic Financial Bridgehead, 1st edition, Beijing: Zhonghua Gongshang Lianhe Publishing, 2011.

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© 2013 Joe M. K. Ng

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Ng, J.M.K. (2013). From Greenback to Redback: The Journey of Renminbi from Local Circulation to Reserve Currency. In: Wong, M.C.S., Chan, W.F.C. (eds) Investing in Asian Offshore Currency Markets. Global Financial Markets. Palgrave Macmillan, London. https://doi.org/10.1057/9781137034649_9

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