Economics, Econometrics and Finance
8 years ago

Chinese RMB set to challenge US dollar dominance in global economy.

Banks and Bank Systems
An introduction to the prospect of the Chinese RMB as a reserve currency
Paul F. Gentle

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The Chinese RMB will be added to the select currencies of the IMF on October 1, 2016. This change will not replace the dominance of the U.S. dollar as a select currency. The article explains how this addition will work with the IMF's special drawing rights.