an hour agoChina aims to internationalise its currency
Periskopi(8 years ago)
(8 years ago)China's People's Bank head said he is determined to internationalise more Yuan currency, including the opening of financial markets. “We have taken sufficient measures in the process of internationalising Yuana from now on will allow it to be used in trade and investment”, Governor Jou said. [...]
“We have taken sufficient measures in the process of internationalising Yuana from now on will allow it to be used in trade and investment”, Governor Jou Xiaochu said at a news conference.
Moreover, Yuan is involved in the SDR currency basket (Special Drawing Rights)”, the governor said further.
The SDR (Special Draw Rights) is an international asset established by the IMF in 1969 to complete its members' national currencies. The SDR assessment is based on an international currency basket reviewed by the IMF every 5 years.
China is seeking to further expand its financial markets to strengthen Yuan's international position and encourage national currency abroad
