RMB digital currency cannot be exchanged for gold and foreign ex

1. Can also be used, there is a digital currency does not mean that the RMB can not be used

2. There is no need to exchange it. It is the digital form of RMB. It's legal tender. It's compulsory circulation.

5. There is no limit< In fact, foreign exchange is a very small business, which can be handled by larger banks
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6. Instrial Bank and Shanghai Gold Exchange announced recently that they will launch personal physical gold investment procts nationwide through the platform of Shanghai gold exchange, which is the first time for domestic commercial banks to launch this business. Instry insiders believe that the Shanghai Gold Exchange will further open gold investment to indivials in July, and the domestic gold market may face a new "reshuffle"

with the opening of gold trading in the exchange to indivials, the financial attribute of gold as investment has been more thoroughly reflected. Yang Yijun, from weierxin investment research center, believes that before that,
the gold exchange also concted a small-scale pilot of indivial gold investment. And before that, there was not no personal gold investment channel in China. Some banks and gold merchants have already launched their own investment gold bars or paper gold trading varieties. However, with the opening of the gold exchange to indivial gold investors, this part of the gold investment market will be impacted to a certain extent

taking bank paper gold as an example, the transaction cost of 0.8 yuan / g to 1 yuan / G is higher than that of the gold exchange. Based on the current gold price of 160 yuan / g, the handling charge for a round-trip transaction in the gold exchange is about 0.48 yuan / g, which is superior to the transaction cost of gold investment in the current market. Of course, the gold varieties traded in the gold exchange also have their disadvantages, that is, they can not buy back after applying for delivery, which is the advantage of some gold merchants
physical gold is the best hedging tool in the political and economic turmoil. The minimum purchase unit of physical gold investment is 100k, but it can be traded only when the physical gold is not put forward. Once the physical gold is extracted, it can not be traded legally, but it is not against the law to hold gold
you can open an account with instrial bank or Huaxia Bank, open online financial management function, and then you can buy and sell physical gold, and withdraw physical gold from Shanghai gold exchange.

7. On November 30, 2015, the Executive Board of the International Monetary Fund (IMF) decided to include RMB in the special drawing right (SDR) basket. The SDR basket was expanded to us dollar, euro, RMB, yen and pound sterling. The weight of RMB in the SDR basket was 10.92%, and that of US dollar, euro, yen and pound sterling was 41.73%, 30.93%, 8.33% and 8.09%, respectively, The new SDR basket will take effect on October 1, 2016
this is a historic moment for RMB, and it will become the biggest economic event in 2015 and go down in history
wait! So mysterious, what is SDR? What is the significance of RMB joining SDR? What's the impact on you and me? If you want to know the answers to these questions, go on
what is SDR? For example, "paper gold"
SDR was born in 1969 and created by IMF. It is called special drawing right in English and special drawing right in Chinese. It is a potential claim of IMF members on freely available currency quotas
don't understand? In fact, it is a kind of supplementary international reserve asset, the unit of account of IMF and other international organizations, also known as "paper gold"< In other words, SDR is not a power, but a reserve currency, which is similar to gold dollar and can be used as a country's foreign exchange reserve
If a country's currency becomes the currency of SDR, it will be regarded as the world's currency, which has a worldwide storage function. At present, the currencies in the SDR basket include the US dollar, the euro, the British pound and the Japanese yen
the IMF evaluates the SDR basket every five years. In general, it adjusts the weights of currencies in the basket and considers the inclusion of other currencies. So far, the only currency replacement in the SDR basket occurred in 1999, when the euro replaced the German mark and French franc
the IMF's adoption of RMB as a new member of the SDR basket is equivalent to a "3A" for RMB by the international community. Although the weight of RMB in SDR may be lower than expected, there are still opportunities for RMB under the five-year assessment
what is the significance of RMB being included in SDR? Some people may ask: SDR can't be seen, can't be touched, and can't be spent. What's the benefit of RMB joining SDR for China
RMB's accession to SDR, however, is the first time that the IMF has used an emerging economy currency as a reserve currency, which will greatly enhance the position of RMB in the international monetary arena. China will gain a greater voice in the future world economic activities, which is of great symbolic significance< Of course, the benefits of BR / > are not only symbolic. From the domestic perspective, China's accession to the SDR will catalyze domestic financial reform. China's asset prices will graally become international, and asset bubbles will graally be resolved.
from an international point of view, joining the SDR means that RMB has become the world currency in the true sense, and has become the official currency of more than 180 member countries of the International Monetary Fund. The internationalization of RMB will cross a big hurdle< Some analysts say that if China's accession to the WTO promotes the development of China's export-oriented economy, then China's accession to the SDR may finally make a firm foothold in the international financial arena
the Great Wall was not built in a day, and the successful incorporation of RMB into SDR is also a new beginning. A convertible and freely usable international currency is the goal RMB will strive for in the next five years
Central Bank response:
the people's Bank of China welcomes the decision of the Executive Board of the IMF to include RMB in the SDR basket, which affirms the achievements of China's economic development and reform and opening up. China appreciates the hard work of the IMF's management and staff in the SDR review process and the support of the majority of Member States. The entry of RMB into SDR will help to enhance the representativeness and attractiveness of SDR and improve the current international monetary system, which is a win-win result for China and the world. The entry of RMB into SDR also means that the international community has more expectations for China to play a positive role in the international economic and financial arena. China will continue to unswervingly push forward the strategic deployment of comprehensively deepening reform, accelerate financial reform and opening up, and make positive contributions to promoting global economic growth, maintaining global financial stability and improving global economic governance
how does RMB joining SDR affect you and me? How does RMB joining SDR affect you and me? Before that, some people had been worried that RMB's inclusion in SDR would lead to RMB's "diving" and devaluation
in this regard, experts said that at present, there is no sign of large-scale or lasting depreciation of RMB. Yi Gang, vice governor of the central bank, also said earlier this month that after the RMB is included in the SDR, it will remain stable at a reasonable and balanced level
in fact, the inclusion of RMB into SDR can increase the recognition and confidence of the international market for RMB, rece the pressure of RMB devaluation, and help the people of our country to have a stronger RMB
apart from the exchange rate, what other impact will it have on you and me? With more benefits coming, it is no longer a dream for one coin to go around the world
it's easier to travel abroad“ The "go, go" tourism will no longer be a dream. Traveling and shopping abroad can be settled directly in RMB. There is no need to exchange foreign exchange, and there is no need to worry about exchange rate costs and risks
it is more convenient to buy houses and speculate in stocks abroad. Want to buy a house abroad? It can be settled directly in RMB. Do you want to invest in foreign stocks? Indivial cross-border investment is more free and convenient
trade settlement is more advantageous. Enterprises' import and export commodities and cross-border transaction investment can be priced in RMB, which reces the exchange rate risk and exchange cost. It will become history to worry about the fluctuation of the US dollar.

8. In the past, the world's currencies were linked to gold, but if you think about it, the government could not use monetary policy. The appreciation and depreciation of currencies were completely determined by the discovery or transaction of gold. This is the gold standard. Later, the world's currencies were linked to the US dollar, but there were also problems in this system. The US dollar can only change when the exchange rates of all currencies change, This is the Bretton Woods system. After the collapse of the Bretton Woods system, the floating exchange rate system was adopted. However, our country actually controls the exchange rate. With foreign exchange reserves, the country can control China's exchange rate, which is concive to exports. The euro and US dollar are commonly used in International settlement. I'm interested in reading economic books.

9. It can be understood that if the RMB changes, it will affect the currency exchange rate of other countries and the global economy