Sentences with phrase «against a falling yuan»
But since bitcoin has become a store of value as a hedge against a falling yuan, the «digital gold» currency could continue on its upwards trajectory.
http://bitcoinist.com/
But since bitcoin has become a store of value as a hedge against a falling yuan, the «digital gold» currency could continue on its upwards trajectory.
More Chinese investors are buying Bitcoin to use as a hedge against the falling Yuan.
Not exact matches
Already some of his comments have been blamed for the currency falling, most recently to two month lows against the Japanese yen, after he claimed the strength of the US dollar against China's yuan was «killing us».
The onshore yuan, also called the renminbi, is constrained by a trading band: China's central bank, the People's Bank of China (PBOC), lets the yuan spot rate rise or fall a maximum of 2 percent against the dollar, relative to the official fixing rate, which is set daily.
Investors around the world were taken by surprise on Tuesday after the People's Bank of China (PBoC) devalued the yuan by almost 2 percent against the U.S. dollar, causing the currency to suffer its biggest fall in over two decades.
(Cryptos are a popular way for mainland investors to diversify away from a volatile yuan, which fell to more than eight - year lows against the dollar in 2016.)