China's currency fell sharply in value on Tuesday following the central bank's decision to improve its "central parity system" to better reflect market development in the exchange rate between the Chinese yuan against the U.S. dollar.
The Central Bank of Myanmar has decided to sell foreign exchange reserves at a set rate in a bid to facilitate import of fuel and edible oil and prevent unwanted hike in foreign currency exchange rate, sources with the central bank said Thursday.
After years of grabbing the spotlight in Sino-U.S. economic relations, U.S. concerns over the valuation of Chinese currency, or renminbi (RMB), are expected to fade as the International Monetary Fund has declared that RMB is no longer undervalued, U.S. experts said.
The British pound Tuesday hit 1.40 pounds against 1 euro mark for the first time since December 2007, as the European Central Bank (ECB) began its quantitative easing policy on Monday.
A total of 60 private security companies have so far bid for service provider licenses for establishing Myanmar's first ever stock exchange in Yangon, according to the Finance Ministry Sunday.
The Myanmar government has refuted a critique over probable failure to set up a stock exchange in the country, saying that the establishment of the stock exchange is a business rather than politics, official sources said Wednesday.
The China-ASEAN Cultural Exchange Year- 2014 ceremonially closed in Myanmar's capital of Nay Pyi Taw Tuesday night, demonstrating to the world that China and ASEAN have made rich achievements in cultural exchange and cooperation.
The Russian government has worked out measures to stabilize the currency market, Economy Minister Alexei Ulyukayev said Tuesday.
The preliminary estimate of China's Macao Special Administrative Region's foreign exchange reserves reached to 130.2 billion patacas (16.31 billion U.S. dollars) at the end of August 2014, according to the figures released on Monday by the Monetary Authority of Macao.
"The show was very successful and could fully describe the Chinese culture, as an audience, what I want to say is 'I am longing for more'", an official from ASEAN secretariat has said.
Several Bitcoin exchange websites in China are facing suspended bank services.
China's commerce ministry spokesman said on Tuesday that people should not hype the recent downward movement in the value of the Renminbi, or the yuan, against the U.S. dollar.
China will widen the yuan's daily trading band from the current 1 percent to 2 percent starting next Monday, the country's central bank said Saturday.
The value of the Chinese currency Renminbi, or the yuan, has fallen against the U.S. dollar for five consecutive trading days. It weakened 13 basis points to 6.1189 against the greenback on Monday.
The value of the Chinese currency Renminbi, or the yuan, weakened 43 basis points to 6.1146 against the U.S. dollar on Thursday, according to the China Foreign Exchange Trading System.
The Renminbi, or yuan, is likely to strengthen to 6 or below against the U.S. dollar next year with the economy back on its feet.
New Zealand needs policies to address private sector savings and to raise economic flexibility in order to address it overvalued currency, a senior Reserve Bank of New Zealand official said Friday.
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