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The U.S. Dollar's Facilitating Role as International Money Today

Ronald I. McKinnon

in The Unloved Dollar Standard: From Bretton Woods to the Rise of China

Published in print:
2012
Published Online:
January 2013
ISBN:
9780199937004
eISBN:
9780199980703
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199937004.003.0002
Subject:
Economics and Finance, Financial Economics

Banks find a great economy of markets if just one currency, the Nth, intermediates virtually all foreign exchange transacting. Data from the Bank for International Settlements shows that the dollar ... More


The RMB Goes Global

Eswar S. Prasad

in Gaining Currency: The Rise of the Renminbi

Published in print:
2016
Published Online:
October 2016
ISBN:
9780190631055
eISBN:
9780190631086
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780190631055.003.0005
Subject:
Economics and Finance, International

This chapter describes the increasing use of the RMB in international trade and finance transactions. These developments have been driven by China’s increasing weight in global GDP and trade, and ... More


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