Journals Higher Education



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Published: 24 November 2016

344 Pages


ISBN: 9780190631055

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Gaining Currency

The Rise of the Renminbi

Eswar S. Prasad

  • Provides new perspectives on the RMB's role in global finance
  • Argues that the RMB will become a reserve currency but will not ascend to the status of a safe haven currency; it will erode but not challenge the dollar's dominance
  • Makes a strong case for why RMB is not a significant threat to the US dollar
  • Lays out exactly what it means to be an international currency and shows that the RMB is already one by certain definitions and has a long way to go by others

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