Will RMB be Freely Convertible by End of 2015?That was the statement from PBoC Governor Zhou, 2015 being the end of the 12th "5-year-plan".
If PRC China follows through with that, it would make the RMB an international currency and part of IMF's "Special Drawing Right" alongside the USD, EUR, GBP and JPY. IMHO this is great leap forward for PRC China.
PRC Chinese will be able to buy and sell equities, fixed-interest products (bonds and t-notes etc) and whatever they fancy with RMB. Zhou calls it "user-friendly", and so it will be when internationalized.
So, the other $64k question on everyone's mind, will PRC devalue? I doubt that, but won't put it pass PBoC in the longer term.
I've been looking towards this day.
You see that reference-SDR? Know what it is beyond the above description? You will in the future. Mishao Post time: 2017-8-20 21:41 static/image/common/back.gif
You see that reference-SDR? Know what it is beyond the above description? You will in the future.
Cab't wait to learn some something new :D