Overview
Overview
When the International Monetary Fund (IMF) announced in 2015 that it would include the Chinese renminbi (RMB) as a reserve currency in its Special Drawing Rights (SDR) basket the following year, it raised expectations that the RMB could establish itself as a reserve currency relatively quickly.
Progress has been slow so far, but we believe the RMB’s march to reserve currency status is on course and will accelerate with the gradual opening up of its domestic bond market. We therefore think it is time for a reality check on the RMB's past, present and future role as a reserve currency.
- Which factors are slowing down the allocation of global reserves to RMB-denominated assets?
- How and why do central banks invest into RMB assets?Â
- What is the medium-to-long term outlook for the rise of the RMB towards a level of 10 percent of global reserves?
In order to answer these questions, we looked at the most recent statistics on the use of the RMB, and we also conducted interviews with several central banks in the first months of 2018 to ask for detailed feedback on their current and future RMB holdings.
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Introducing our leadership team
Meet the members of the team responsible for ÃÛ¶¹ÊÓƵ Asset Management’s strategic direction.
