Search Results for: Chinese yuan
MAS welcomes cross-border yuan initiative for Tianjin Eco-city
July 10th, 2014
The Monetary Authority of Singapore (MAS) has welcomed the move by China’s central bank to allow companies and individuals in Tianjin Eco-city to conduct cross-border yuan transactions with Singapore. The directive issued by the People’s Bank of China (PBC) ...
Bank of Communications Designated as Clearing Bank for Won-Yuan Trading
July 8th, 2014
The People’s Bank of China has appointed the Bank of Communications Ltd. as a clearing bank for the direct won-yuan trading in Korea. Chinese President Xi Jinping and his Korean counterpart President Park Geun-hye had agreed on the 3rd ...
Direct won-yuan trading on the way
July 3rd, 2014
While North Korea is set to top the agenda at talks later today between Chinese President Xi Jinping and South Korean President Park Geun-hye, increasingly close bilateral economic relations won’t be far behind. There are two main items on ...
Yuan to Start Direct Trading With Pound from tomorrow
June 18th, 2014
China will allow the yuan to be exchanged directly for British pounds from tomorrow in Shanghai as the world’s second-largest economy promotes the use of its currency in global trade and finance. “This is an important step in strengthening ...
China’s Yuan edges lower on Dollar demand for dividend payments
June 4th, 2014
China’s yuan weakened marginally against the dollar on Wednesday as overseas-listed Chinese companies bought dollars to pay interim dividends, traders said. Spot yuan stood at 6.2552 per dollar at midday, easing 0.02 per cent from Tuesday’s close as the ...
Chinese Property Developers Stake Out Shares In Commercial Banks, Intensifying Systemic Risks
April 14th, 2014
Major Chinese property developers have in recent months been buying increasingly large stakes in regional banks, posing risk that an unravelling in the real estate market could leave both lenders and builders confronting losses big enough to pose a ...
Offshore Yuan Bets Losing $3.5 Billion, Morgan Stanley Estimates
March 20th, 2014
More than $3.5 billion has been wiped off the value of offshore yuan structured products, Morgan Stanley estimates, as China’s slowing economy and mounting credit concerns weaken the currency. Losses on Target Redemption Forwards were probably in the region ...
Dollar starts 2021 in the cellar with a hangover
January 4th, 2021
The dollar started the new year by slipping broadly on Monday as investors sold it for just about everything else in the Asia session, wagering the world’s pandemic recovery will drive other currencies higher. The euro, which had dipped ...
British pound rose against the dollar
December 15th, 2020
The dollar traded near 2 1/2-year lows against major peers on Tuesday as demand for the safest assets flagged amid progress toward agreeing U.S. fiscal stimulus and optimism for a Brexit deal. The greenback was near its weakest since ...
Dollar loses ground, pound gains as traders eye Brexit talks
November 16th, 2020
The dollar lost ground against other major currencies on Monday, while the pound and the euro drew strength from signs that Britain and the European Union could make progress negotiationg a post-Brexit trade deal. Sentiment across markets were mixed, ...
