betekenis van het woord RENMINBI

Centrale bank Iran stopt volledig met het gebruik van Dollars

Iran's central bank has announced that it will stop mutual settlements in the US dollar with other countries, with the Chinese yuan or RENMINBI being named as one of the alternatives.

Iran's central bank has announced that it will stop mutual settlements in the US dollar with other countries, with the Chinese yuan or RENMINBI being named as one of the alternatives.

In trade exchanges with foreign countries, Iran uses other currencies, including yuan, euro, Turkish lira, Russian ruble and South Korean won, Gholamali Kamyab, deputy head of the Central Bank of Iran, told the country's Tasnim news agency.

Iran will also consider the possibility of signing bilateral monetary agreements with several countries on the use of other currencies, Kamyab said, adding that the move will ease Iran's foreign trade and economic transactions.

China: ‘Internationalisation of RENMINBI is planned in three phases’

In October the first roadshow for the internationalisation of the RENMINBI started during a OMFIF-seminar  on the ‘RENMINBI-isation’ of the Chinese currency. I attended this meeting and would like to share the minutes of this important seminar;

In October the first roadshow for the internationalisation of the RENMINBI started during a OMFIF-seminar  on the ‘RENMINBI-isation’ of the Chinese currency. I attended this meeting and would like to share the minutes of this important seminar;

As Chinese trade and investment grow, so does demand for the RENMINBI. China is seeking to ‘normalise’ its currency, working towards convertibility, increased use in global trade invoicing and settlement, and eventually international reserve currency status.

The internationalisation of the currency is planned in three phases, said Tu Yonghong, director of the International Monetary Institute at Renmin University. First, it will be used for international trade through China’s onshore hubs; then it will be used across Asia; and finally it will become a global currency.

Standard Chartered, which monitors seven offshore centres including Singapore and Hong Kong, estimates that global use of RENMINBI has already increased 20-fold since 2010.

Special Drawing Right als toekomstige reservevaluta versterkt door toevoeging van RENMINBI

De contouren van een nieuw financieel systeem dat gebruik gaat maken van de Special Drawing Right (SDR) als reservevaluta ter vervanging van de dollar, ondersteund door de Chinese RENMINBI, beginnen zich steeds scherper af te tekenen. Volgende jaar zal de IMF beslissen of het mandje met ondersteunende valuta uitgebreid moet worden met de Chinese munt. De plannen van het Britse Ministerie van Financiën om in RENMINBI genoteerde obligaties op de markt te brengen en deze te accepteren als reserves op de balans, moet gezien worden als een sterke ondersteuning van deze ontwikkeling.

Willem Middelkoop: RMB to become “the main global reserves currency”

LONDON, Sept. 12 (Xinhua) — British Chancellor of the Exchequer George Osborne announced Friday that the British government intend to issue a RENMINBI denominated bond and to use the proceeds to finance the government’s reserves of foreign currency.

LONDON, Sept. 12 (Xinhua) — British Chancellor of the Exchequer George Osborne announced Friday that the British government intend to issue a RENMINBI denominated bond and to use the proceeds to finance the government’s reserves of foreign currency.

“I can now announce that the UK government intend to be the first national government outside of China to issue a bond in China’s currency. We issued bonds in U.S. dollar before, now we will be issuing a bond in RMB,” said Osborne in the press release of the Sixth China-UK Economic and Financial Dialogue (EFD).

Chinese Vice Premier Ma Kai and Osborne concluded the meeting of the Sixth China-UK Economic and Financial Dialogue in London. Osborne described this dialogue outcome as “a historic moment” and a statement of British confidence in the potential of the RMB to become “the main global reserves currency. And let me be clear, as China becomes a bigger and bigger part of the world economy, their currency is going to be used around the world. We here in Britain understand that, and we want us to be the first country in the west to seize the opportunities that it will bring,” declared Osborne.

Willem Middelkoop: IMF en VS lijken Chinese munt te willen accepteren als onderdeel van de nieuwe wereldmunt

The London based financial think thank OMFIF carried out an 11-day tour of Asia on 14-25 July encompassing six financial centres. The tour benefited from 48 top-level conversations among them heads of central banks and sovereign funds, other senior government and central bank officials, leading investors, pension funds, economists and academics. OMFIF concludes that the RENMINBI is part of a multiple reserve currency system already. One Chinese official said that the RENMINBI could succeed internationally only if it was a 'quality currency', which could point towards some form a gold backing in the future - According to OMFIF's monthly newsletter the number of countries holding RENMINBI in their official reserves has risen to around 40. And most important from our point of view, the US and the IMF appear to be moving towards acceptance that the RENMINBI could form part of a "redrawn version of the IMF's Special Drawing Rights", which could replace the dollar as the world reserve currency one day.

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