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.
With a referendum being held on June 23, a British exit from the European Union is now a distinct possibility. CT asks what the financial impact could be.
Finance ministers and central bankers from the G20 group have promised to give each other a heads-up on actions that could trigger major devaluations of their currencies.
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.