Standard Chartered Bank commissioned Asset Benchmark Research to conduct the Renminbi
Review 2015 survey between late-October and mid-November, and interviewed 173 treasurers and senior finance executives from Asia, Europe and the US.
The Board decided that the renminbi
, also known as the yuan, met all existing criteria including that the currencies are used by members whose exports have the largest value over a five-year period and are determined by the IMF to be 'freely usable.
ties between China and the UK, new CNH products in South Korea, and the imminent launch of the new cross-border Renminbi
settlement system in CIPS (Cross Border Interbank Payment System) should also all help anchor confidence and bolster future CNH use.
China's exchange-rate policies have been a persistent source of controversy in the United States since shortly after the PBOC devalued the renminbi
and pegged it to the dollar in 1995.
Her stance -- that it is just a matter of time before the renminbi
is added to the basket -- garnered considerable media attention.
Royal Bank of Canada (NYSE: RY) has announced that it has completed its first cross-border renminbi
Many experts at AFF noted that with the trend towards the internationalisation of the Renminbi
, and China's firm push behind it, Hong Kong would only grow in economic strength from here on.
We are in active dialogue with the People's Bank of China and the Chinese financial community to make Dubai as a renminbi
The Chinese authorities confirm with this designation the important role that Luxembourg plays in the context of the internationalisation of the Renminbi
and as one of the major European Renminbi
hubs," it noted.
As a result, the Japanese yen has weakened sharply, including against the renminbi
Many overseas banks are now more willing to carry out renminbi
business," said Zhang Qingfu, head of the Middle East and Africa overseas business division of Haier Group, China's largest home appliance manufacturer, adding that cross-border trades with China can now be settled in renminbi
in many countries and regions.
The implementation of this movement of funds is conducted through an intercompany loan," said Joe Ng, Asia Pacific head of Renminbi
payments product management for Global Transaction Banking at Deutsche Bank.