Rising in the East – the 21st Century Currency

The rapid growth of the Chinese currency is nothing short of remarkable. In five short years, the offshore renminbi has gone from relative obscurity to becoming the world’s fifth most traded currency, a major milestone as it moves closer and closer to internationalisation.With the IMF vote on whether to include the renminbi in its SDR basket of currencies coming up, all eyes are most definitely on China.

To find out more about the renminbi’s meteoric rise, this article by ParFX’s Roger Rutherford explores the rise of the renminbi and its importance in today’s global FX market.