Sentences with phrase «yuan currency»

Long - time crypto watchers will recall 2013, when China banned exchanges from allowing people to buy into bitcoin and other crypto coins using the local yuan currency.

Effective January 25, 2016, Merk Asian Currency Fund (MEAFX) becomes Merk Chinese Yuan Currency and Income Fund.

Hayden Briscoe, Head of Fixed Income, Asia Pacific, at UBS Asset Management, said in a report just before the Chinese futures launched that «We believe that in the long term this will change how oil is traded globally, create a petro - yuan currency flow, increase the role of the RMB [renminbi — Ed.]

The global stock market rout of the past week was sparked by concerns over a possible interest rate rise by the U.S. Federal Reserve and not by the devaluation of China's yuan currency, a senior Chinese central bank official told Reuters on Thursday.

The slowing of China's growth and manufacturing sector during the past year has hit investor sentiment towards the world's second - largest economy, causing volatility in its capital flows, putting pressure on its yuan currency and forcing the central bank to intervene in currency markets.

Not exact matches

But now, in this lacuna between the descent of the greenback, the collapse of the euro and the rise of the yuan, Canada has a moment to be the darling of global currency.

Chi Lo of BNP Paribas says the Chinese yuan could see some swings linked to trade issues, but such movements would point to a more market - based approach to the currency.

The Chinese economy had been slowing for months, but the country's currency continued to appreciate as the PBoC sold billions of dollars to buoy the yuan's value — a gesture few seemed to appreciate.

The PBoC described the devaluation as small compared with the yuan's appreciation in recent years or the depreciation of the currencies of its economic rivals in Asia and Europe.

The goal is to establish Vancouver as the first offshore settlement centre for the Chinese currency renminbi — also known as RMB or yuan — in North America, Clark said.

Interestingly, part of Russia's success in China has been attributed to its willingness to accept Chinese yuan denominated currency for its oil.

Dealing in the redback is a complicated process — China has historically maintained tight currency controls, and buying and selling yuan has to go through a renminbi exchange.

You can call it the yuan or the renminbi — they are used interchangeably — but whatever you call it, you'd better get ready for the world's fastest - growing currency.

China is starting to roll back measures meant to prop up its currency after a recent surge in the yuan erased all of last year's losses.

Beijing hopes to challenge the dollar by setting up a futures market with its own currency, the yuan.

An oil futures market based in yuan will stimulate demand for the Chinese currency, which China believes will lend it strategic clout.

China, for example, still imposes many restrictions on foreign capital, and its currency regime restricts companies from trading in the yuan.

The dollar has also made fresh advances against the offshore Chinese yuan (the rate that isn't as tightly controlled by the People's Bank of China), indicating a fresh wave of speculation against the Chinese currency.

Capital outflows lead to a weaker currency, which concerns the hordes of Chinese companies that borrowed debt in foreign currencies over the past few years and now have to pay it back with a weaker yuan.

This is despite the 30 % appreciation of the yuan against a basket of currencies over the past decade.

A second and wider - reaching development is a scheme to allow the yuan and other foreign currencies to be freely traded with few restrictions by firms in the Shanghai Free Trade Zone (FTZ).

The yuan is the currency that is the fifth-most important currency for global trade, but that is not enough to be included in the SDR basket.

More specifically, China is seeking to have the yuan included in the basket of reserve currencies that make up the IMF's special drawing rights (SDRs).

The likely eventual inclusion of the Chinese yuan in the elite rank of «reserve currencies» will not threaten the global leadership position of the US dollar, which currently accounts for over 60 % of global currency reserves.

This development comes at a time when the Chinese are pushing to have the IMF officially label the yuan as a «reserve currency.»

He said the central bank's rate rise talk could restart the negative feedback loop that took place this year, when a strong dollar leaned on emerging markets currencies, including the Chinese yuan, and commodities prices, creating tight financial conditions and economic weakness.

When the Chinese yuan is devalued, it costs a Chinese consumer more in the local currency to buy an American product or service since each yuan now buys fewer dollars.

So shared Wong's sentiment on apparent ineptitude among Chinese officials, suggesting that the PBoC's decision to fix the yuan lower against the dollar in recent days had given the impression the central would not defend the value of the currency for the time being.

The Chinese currency now has slipped about 3 % this week, and would have fallen more if the People's Bank of China hadn't resumed selling dollars to buy yuan.

China's decision on Tuesday to devalue its currency, the yuan, by 1.9 % resulted in chaos.

Raising the yuan's profile and transforming it into a leading global currency has been among Chinese president Xi Jinping's key endeavors.

But as you can see below, the yuan has a long way to go in its quest to challenge other currencies.

China's surprise decision to revalue the yuan as it tried to contain the stock market turmoil caused the currency to drop the most in 21 years last month, triggering exchange - rate declines elsewhere in the emerging world on concern that a weaker yuan will hurt countries exporting to China.

He scored a big win in 2015, if you recall, when the International Monetary Fund (IMF) agreed to include it in its basket of reserve currencies, placing the yuan in the same league as the U.S. dollar, British pound, Japanese yen and euro.

And for the Chinese private equity groups, raising funds in dollars instead of yuan enables them to target overseas investments without getting entangled in Beijing's capital controls, while international investors often wish to avoid taking local currency risk.

As of last year, the U.S. dollar accounted for 63.5 percent of countries» allocated reserve currencies, compared to the yuan, which had only a 1.12 percent share.

As a result of its weakening economy, China has abandoned its currency peg with the dollar and reduced the yuan's exchange rate on three separate occasions this week.

But it needs to be viewed in the context of the currency's relative strength: The yuan was one of few currencies to have appreciated against the dollar over the past five years.

Hoffman also commented on the recent surprise move by the Chinese central bank to devalue its currency, the yuan.

For one, the stronger dollar has weighed on China's yuan as higher U.S. interest rates spur outflows from the currency.

Chang said Trump's assertion that China is devaluing the yuan is incorrect because Chinese policymakers are actually intervening to boost the currency to prevent capital flight.

While a weaker yuan looked inevitable to Trinh, the central bank's decision to devalue the currency on Tuesday took markets by surprise — sparking a selloff in global equities and emerging - market currencies.

«Some investors told me I was crazy,» Trinh, the senior currency strategist at Royal Bank of Canada in Hong Kong who predicted a yuan retreat in June, when most of her peers were forecasting a stable or stronger exchange rate.

Chinese authorities had been propping up the yuan, contributing to an almost $ 300 billion drop in foreign - exchange reserves over the last four quarters, as policy makers sought to deter capital outflows and encourage global usage of the currency.

The yuan's tumble roiled Asian currencies and equities this week.

That just puts the price of oil that much farther out of U.S. motorists» reach, while a soaring Yuan would give China's motorists a big currency - adjusted discount at their pumps.

On the other hand, the recent appreciation of the yuan against a basket of currencies created by the Chinese government, is mainly artificial.

But given the international effects, I don't see how China is going to withstand yet more demand for its currency as speculators and other foreigners try to buy yuan - denominated assets.

The central bank added the most funds to the financial system in open - market operations since February on Tuesday as currency - market intervention to prop up the yuan strained the supply of cash.

China's surprise yuan devaluation on Aug. 11 led to a tightening in liquidity as the PBOC subsequently bought its currency to stabilize the exchange rate and curb capital outflows.