Abstract：
This paper studies the development level of United States currency swap and the degree of currency internationalization on the basis of their data of 2000-2011. It is found that there is an obscure explanation between the development levels of currency swap and the currency internationalization of U.S. dollar over the short term. But the currency swap gives an impetus to the dollar-denominated financial product in international financial market, and also effectively enhances the internationalization level of dollar in the longer run. On the other hand, the internationalization of dollar will expand the domestic currency swap over the short term. But from a long-term perspective, it is of no effect on currency swap. Priority should be given to developing the currency swap markets. With the development of the market, it would resist the impact of the financial market from the overseas markets, and finally achieve the aim of RMB as an international reserve in international economic relations.
2013 
