The Rise of the Yuan (RMB) as a Global Reserve Currency: Evolution and Perspectives

Abstract

This research analyzes the origin, evolution, and future prospects of the Chinese yuan (Renminbi, RMB) as a global reserve currency. It examines China’s internationalization strategies, the structural obstacles the RMB faces, and the prospective scenarios that could unfold. Despite achievements such as inclusion in the International Monetary Fund’s Special Drawing Rights (SDR) basket and a growing share in international reserves, the yuan still confronts significant barriers to becoming a dominant reserve currency. Three future scenarios are proposed, with gradual consolidation being the most probable in the short and medium term.