The IMF has endorsed the renminbi as a freely usable currency, recognising China’s increased importance in the global financial market. The renminbi’s journey to attaining this status was never straightforward.
Since the central bank dramatically changed the way it values the dong, treasurers have been warned to become proactive about monitoring and managing new risks associated with it.
Following the move by the People’s Bank of China to devalue the renminbi, CT compiles excerpts from analyst reports to assess what it means for Asia’s treasurers.
Regulators in Indonesia are spooked and responding to what they fear is the second coming of the Asian Financial Crisis. Corporates are suffering as a result.