Robert M. La Follette School of Public Affairs

Emerging Market Economies and the Next Reserve Currencies

Current reserve currencies likely will retain their status in the near future, given the persistence in the composition of reserve holdings. However, since we do not have complete data on the switchovers in lead reserve currencies, a great deal of uncertainty attends any forecasts. China's renminbi is the most plausible new reserve currency among the major emerging economies in the long term.

Additional Info

  • Volume or issue no.: La Follette School Working Paper No. 2014-007
  • Author(s): Menzie D. Chinn