The opening-up of its financial markets over the past decade has brought significant momentum to the internationalization of China's currency the renminbi (RMB). In October 2016, the renminbi was added to the International Monetary Fund's Special Drawing Rights basket, ranking third behind the U.S. dollar and the Euro. Three years on, what is the Chinese currency's influence in international foreign exchange reserves and payments? What are the challenges in the currency's global acceptance? And what are the latest moves by the government to further reform and open China's financial system?
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