Deputy Governor

When will the yuan international currency 17 September 2009 we are prudent regarding the concept of the so-called internationalisation of the renminbi, Guo Qingping, Deputy Governor of the Central Bank of China. As all maturative process, in China, beyond the objective existing to impose on its currency as a new international currency, both by a political interest as economic, understand that the process will take time and that they must comply with a series of conditions. It is not only a question of desire, also should be a matter of capacity. In this sense, the yuan has potentially everything to prevail in a few more years as a global currency, reaching even (and very probably) which move the yen of its regional reign. While the yuan is prepared to impose as an international currency, anytime soon, in what refers to the relationship with the U.S. dollar, analysts believe, according to the information center of China Internet, that the exchange rate will have few pressures at the appreciation as long as the U.S. economy remains weak. From the market perceives that the yuan will continue trading in a narrow band, which currently has as a Center to 6.83 Chinese currency units per U.S.

dollar and this under the weakening that has seen the U.S. currency with respect to the major currencies, also implies a weakening of the yuan with the consequent threat to the bilateral trade balance against China for the major economies. The fact to make a currency International does not depend on one country in particular, but the market believed Guo Qingping. China knows that to achieve the goal of internationalizing the Yuan, it should do so is attractive and there are necessary conditions. Although it is not your color, the yuan is still pretty green to be international currency. But although the yuan still requires maturing time, several economies have already begun to incorporate it as an international reserve currency and some even agreed to use the yuan in bilateral trade with China.