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Title: Potential of Renminbi to emerge as international reserve currency.
Authors: Mak, Li Yi.
Ng, Yao Yee.
Pao, Beverly Ying Yan.
Keywords: DRNTU::Business
Issue Date: 2013
Abstract: This paper investigates the potential of Renminbi to become an international reserve currency in the future. It is beneficial as it reduces the ever-growing balance payments deficit pressure on a single reserve currency issuer and provides an alternative currency to the US dollar and Euro. With the People’s Republic of China (PRC) increasing economic size and expanding influence, Renminbi is a natural choice to emerge as a new international currency. However, this is dependent on the Chinese government’s effort to push for a more convertible Renminbi and development of efficient financial system. Our simulations suggest that the Renminbi will assume a more prominent international role, accounting for around 7-43% of international reserves by 2035.
Rights: Nanyang Technological University
Fulltext Permission: restricted
Fulltext Availability: With Fulltext
Appears in Collections:NBS Student Reports (FYP/IA/PA/PI)

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