RMB Yuan To Be 3rd Largest World Currency By 2020

Posted by: : Paul EbelingPosted on: July 23, 2014 RMB Yuan To Be 3rd Largest World Currency By 2020

RMB Yuan To Be 3rd Largest World Currency By 2020

The Chinese currency Renminbi (RMB) Yuan will become the world’s 3rd largest currency after the USD, and EUR by 2020.

A report by the International Monetary Institute of Renmin University of China and the Bank of Communications (HK:3328), published Sunday, said that the RMB internationalization index had risen to 1.69 at the end of Y 2013, up from 0.92 a year before.

The main drivers for the internationalization of the RMB Yuan come from cross-border trade settlement and direct investment.

In Y 2013, China’s cross-border RMB trade settlement hit CNY 4.63-T (US$ 759-B), +57.5% Y-Y, and RMB Yuan direct investment totaled CNY 534-B, +90% Y-Y.

The institute and the bank have been jointly issuing RMB Yuan internationalization reports annually since Y 2012.

Stay tuned…

HeffX-LTN

Paul Ebeling

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Paul Ebeling

Pattern Recognition Analyst, equities, commodities, forex
Paul Ebeling is best known for his work as writer and publisher of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly-regarded, weekly financial market letter, where he enjoys an international audience among opinion makers, business leaders, and respected organizations. Something of a pioneer in online stock market and commodities discussion and analysis, Ebeling has been online since 1994. He has studied and worked in the global financial and stock markets since 1984.
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