Renminbi: just steps away from full convertibility
The Royal Bank of Scotland is nailing it colours to the mast by claiming China’s renminbi will be fully convertible by 2017.
.jpg&c=1&h=810&q=100&v=20250405&w=1440 "Renminbi: just steps away from full convertibility")
British government-owned Royal Bank of Scotland (RBS) is predicting the renminbi will be fully convertible in five years. RBS believes the economic downturn has weakened the credibility of both the US dollar and the euro as a reserve currency and countries are keen to find another suitor.
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