Browsing Tag

yuan

39 posts

About 14% people carry no cash in China

The report also said that 84 percent of people in China said they are “comfortable” going out with only mobile phones, no cash.

HSBC’s Currency Expert Says Speed of Yuan Drop Is Frightening

David Bloom, global head of currency strategy at HSBC Holdings Plc, talks about the yuan and Federal Reserve policy

China driven trade in Asia is pushing up Yuan momentum

The global use of the yuan as a trade settlement currency is clearly on the rise
Chinese currency Yuan official name Renminbi

Chinese yuan surges as rate raised to 6.23%

China’s yuan surged to a 19-year high on Thursday, climbing to as high as 6.1707 per dollar, as the People’s Bank of China raised its reference rate by 0.13% to a record high of 6.2300 amid increased global usage of the currency. The yuan usage for global trade and investment rose 32% in March from the previous month.

Fitch downgrades China’s local currency rating

Fitch Rating downgraded China’s long-term local-currency rating to ‘A+’ from ‘AA-‘ on Tuesday, citing several “underlying structural weakness” in the country’s economy, including rapid credit expansion from both banks and non-bank institutions.

Incertainties over the Yuan

The drastic appreciation, which has caused more and more domestic discussions about whether the yuan has entered a new appreciation cycle, is in sharp contrast with its continuous depreciation during most of the first half of this year

Yuan strengthens as China’s dollar buying slows down

China’s yuan strengthened through noon trade on Thursday from an eight-week low touched a day earlier, as the suspected aggressive dollar by the central bank died down, leaving corporates scrambling for other sources of yuan.
dollar yuan foreign currencies

Yuan as Asia single currency unlikely without reforms

Asia is far too diverse in terms of economic development standards to utilise a single currency while China still lacks certain necessary fundamentals for the liberalisation of the yuan