Renminbi will be fully convertible by 2015, says RBS


Chinese renminbi is on course to become a fully convertible, internationalised currency by 2015, according to Royal Bank of Scotland (RBS), which last week published a 56-page sequel to its 2011 market guide to offshore renminbi. The latest edition reviews the transformation of the offshore renminbi (CNH) market over the past five years and looks forward to the next phase of the currency's internationalisation.

According to strategists at RBS, China's National Development and Reform Commission

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