The article deals with the reform of the RMB (Yuan) exchange rate, determines its steps and main guidelines, gives analysis of the corresponding legal and institutional changes. The reform of RMB exchange rate represents a unique experience of structural changes in the economy, particularly during the financial crisis. Today we are witnessing the Yuan progressive strengthening in the global economy. The author concludes that strategic goal of the reform is progressive transition of the Yuan to free convertibility and its acquiring the status of the world reserve currency.