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If they let you when you want to. One big thing that has prevented CNY from becoming a reserve currency is that China has explicitly said it wants to preserve
by bobthepanda 7mo ago
If they let you when you want to.
One big thing that has prevented CNY from becoming a reserve currency is that China has explicitly said it wants to preserve its ability to heavily and suddenly restrict capital flows in and out of China. If all of a sudden you can't redeem CNY outside of China inside it that makes it a very poor storage of value.
- robocat 7mo agoYou actually mean CNH as per https://news.ycombinator.com/item?id=47577249 https://news.ycombinator.com/item?id=47577249 CNY is internal to China! See https://simplefx.com/education/usdcnh-differences-between-chinese-offshore-yuan-and-cny https://simplefx.com/education/usdcnh-differences-between-ch...
- kasey_junk 7mo agoTo be clear cnh is a convention while cny is the iso standard.