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Purpose-The purpose of this paper is to identify the determinants for currency inteationalization and forecast the potential of RMB as an inteational reserve currency.Design/methodology/approach-This paper performs linear or non-linear regressions of the shares of eight major inteational reserve currencies as the reserve assets in global central banks on the macro economic and financial variables of their corresponding countries to identify the determinants for their inteational positions,and conducts an "counter-factual simulation" for the potential of RMB as an inteational reserve currency.Findings-This paper finds that the economic size and the "network extealities" are the most important determinants for the mteational status of a reserve currency;that exchange rate volatility has negative impacts;the conditions for the RMB inteationalization are basically available.The simulation for the potential of RMB as an inteational reserve currency reveals that the inteational role of RMB could surpass that of the Japanese Yen and the British Pound,and get close to Euro in the coming 15 years.Based on the empirical evidence,this paper suggests a promoting strategy for RMB inteationalization.Research limitations/implications-This paper has not taken the influence of economic systemic and political factors on the process of RMB inteationalization into account.Practical implications-RMB inteationalization promotion should follow the strategy of "stably create RMB inteational demand in the initial period and dramatically release the RMB overseas supply in the latter period" in the coming 15 years.Originality/value-The conclusions and policy implications are from the results of the empirical analysis on the 45-year historical experience on the eight main inteational currencies.