You are here

CURRENCIES

Internationalisation of renminbi has come a long way

IT is hard to believe that just a decade ago, the Chinese renminbi (RMB) had little exposure in international trade settlement markets.

Strict capital controls by the People's Bank of China meant that any export of the currency was firmly prohibited.

Transactions were settled in...

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes