The Chinese yuan rose sharply against the US dollar on Thursday, taking advantage of the uncertainty of US fiscal policies and displaying the capability of Chinese monitory regulators to stabilize the currency.
Yi Gang, deputy governor of the People's Bank of China, the central bank, told Xinhua News Agency late Sunday that the yuan remains a stable and strong currency in the global monetary system, and it cannot be ruled out that the US dollar could drop.
As India undergoes the world’s biggest currency overhaul in decades, one official is noticeably absent: central bank Governor Urjit Patel.
Nepalese Prime Minister Pushpa Kamal Dahal has called up his Indian counterpart Narendra Modi, requesting him to provide exchange facility for demonetized Indian currency notes in circulation in Nepal, the prime minister's office said here.
The press conference of PEB (Puercoin): White Paper on Digital Currency with Standard System & Global Exchange and Settlement System of Digital Currency was successfully held in Hong Kong on Nov. 9, 2016.
The Treasury Department for the final time during President Barack Obama’s tenure declined to label China a currency manipulator, in an implicit rejection of Republican nominee Donald Trump’s hard-line approach to the world’s second-biggest economy.
But visiting British Parliamentary Under Secretary at the Dept for International Trade, says in Hong Kong that currency has “probably been too high anyway” and is now correcting
China's yuan joins the International Monetary Fund's basket of reserve currencies on Saturday in a milestone for the government's campaign for recognition as a global economic power.
China' s currency, the renminbi (RMB), is breaking the financial world' s ultimate glass ceiling and embarking on a new journey towards global reserve status when it formally joins the elite currency club of the International Monetary Fund (IMF) on Saturday.
The founding of the first renminbi (RMB) clearing bank in the United States and the yuan's imminent formal inclusion in an elite reserve currency basket are the RMB's latest victories on the way to becoming a global currency.
The Chinese yuan will be officially available for loans and repayments for members of the International Monetary Fund (IMF) on Oct 1, as previously scheduled, according to the international financial organization.
Japan and South Korea have agreed to start negotiations for a new currency swap arrangement, to replace the one that expired in February 2015 amid deteriorating bilateral relations.
The digital currency Bitcoin plunged Wednesday after Bitfinex, an exchange based in Hong Kong, said it had been hacked and funds stolen.
A sharp rebound in the strength of Chinese currency the yuan has mitigated worries of further depreciation and shored up the credibility of an exchange rate system that is becoming more market-based.
In mid-March, the Economist Intelligence Unit (EIU), part of the sister company to The Economist magazine, published its latest list of risks facing the global economy.
The People's Bank of China (PBOC) and the Monetary Authority of Singapore (MAS) on Tuesday announced the renewal of the existing bilateral currency swap arrangement (BCSA) for a further term of three years.
There has never been a plan among G20 members to reach a deal similar to the Plaza Accord and such a plan is unrealistic, said Yi Gang, vice governor of China's central bank.
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