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.
A joint CT CBA poll examines the behaviour of corporate treasury departments throughout Asia-Pacific and finds dependence on counterparty ratings and local treasuries limited by central policy.