IT is pretty obvious that chanle is afoot in the international monetary system. A couple of years ago, the yuan set off on a path of internationalization. Early on, we at Standard Bank had front-row tickets： in 2012....IT is pretty obvious that chanle is afoot in the international monetary system. A couple of years ago, the yuan set off on a path of internationalization. Early on, we at Standard Bank had front-row tickets： in 2012. the Nigerian Central Bank announced from our offices in Beijing that they would convert 5 percent of their reserves into yuan. The trend has certainly captured the imagination. Smartly. Beijing has been focusing on broaden- ing the scope of the yuan＇s usage, reaching beyond China＇s geographical territory, widening the arc of currencies it is traded against, and increasing its use in denominating and settling cross-border trade and financial transactions. In other words, the agenda had been primarily about growing the yuan＇s role as a medium of exchange.展开更多
文摘IT is pretty obvious that chanle is afoot in the international monetary system. A couple of years ago, the yuan set off on a path of internationalization. Early on, we at Standard Bank had front-row tickets： in 2012. the Nigerian Central Bank announced from our offices in Beijing that they would convert 5 percent of their reserves into yuan. The trend has certainly captured the imagination. Smartly. Beijing has been focusing on broaden- ing the scope of the yuan＇s usage, reaching beyond China＇s geographical territory, widening the arc of currencies it is traded against, and increasing its use in denominating and settling cross-border trade and financial transactions. In other words, the agenda had been primarily about growing the yuan＇s role as a medium of exchange.
