HONG KONG/BEIJING (Reuters) – China is taking its first steps towards paying for imported crude oil in yuan instead of the U.S. dollar, three people with knowledge of the matter told Reuters, a key development in Beijing’s efforts to establish its currency int... More »
China’s Premier Li Keqiang gestures during a news conference after the closing ceremony of China’s National People’s Congress (NPC) at the Great Hall of the People in Beijing, China, March 15, 2017. REUTERS/Jason Lee China will continue to push yuan exchange r... More »
FILE PHOTO: A U.S. $100 banknote is placed next to 100 yuan banknotes in this picture illustration taken in Beijing, China, October 16, 2010. REUTERS/Petar Kujundzic/File Photo China’s currency is expected to fall to a near decade-low in the year ahead, accord... More »
A customer holds a 100 Yuan note at a market in Beijing, August 12, 2015. REUTERS/Jason Lee China’s yuan is likely to see more volatility against the U.S. dollar this year after its foreign exchange market operator changed the way it calculates a key yuan inde... More »
Chinese 100 yuan banknotes are seen in a counting machine while a clerk counts them at a branch of a commercial bank in Beijing, China, in this March 30, 2016 file picture. REUTERS/Kim Kyung-Hoon/File Photo Beijing needs to stem capital outflows and manage exp... More »
MOSCOW Russian banks may use yuan to boost their capital, Mikhail Sukhov, a deputy governor with the Russian central bank, was quoted as saying by TASS news agency. RIA news agency quoted him as saying that a number of Chinese banks are interested in buying Ru... More »
LONDON Two of the three types of hedge funds which bet heavily on a sharp devaluation of China’s yuan last year have backed off the trade, leaving only some ultra-bearish “Black Swan” investors holding long-term bets, fund managers and bankers said. Hedge fund... More »
Several major hedge funds are piling into bets that China’s currency will decline against the dollar, according to the Wall Street Journal. Hayman Capital Management has invested about 85 percent of its portfolio in bets against the yuan and the Hong Kong doll... More »
BEIJING British finance minister George Osborne said on Monday Britain would like to continue helping the gradual internationalization of the yuan and that it welcomed the potential for majority Chinese investment in future nuclear projects. Speaking at the st... More »
China’s yuan slipped against the dollar on Monday after the central bank fixed a weaker guidance rate, traders said. The People’s Bank of China set the midpoint rate CNY=SAEC at 6.3676 per dollar prior to the market open, 0.11 percent weaker than the previous ... More »
SHANGHAI China’s yuan weakened against the dollar on Monday in spite of a firmer midpoint, as investors sold the Chinese currency and the central bank was seen to be less heavily intervening in the market via state-owned banks. “Dollar sales by state-owned ban... More »
SHANGHAI， China’s yuan firmed on Monday after the central bank set a stronger guidance rate while it also appeared to continue using state-owned banks to support the Chinese currency, traders said. For August, the currency is set to depreciate 2.7 percent if i... More »
SHANGHAI， China’s yuan dipped against the dollar on Tuesday after closing at its weakest level since 2011 on Monday, hit by another slump in the mainland’s stock market and a weak central bank midpoint. Traders said they believed the yuan’s current range betwe... More »
SHANGHAI China’s currency fell to a four-year low on Wednesday, slumping for a second day, after a central bank devaluation on Tuesday, and government sources believe the yuan may be allowed to slide even further to help the country’s exporters. The yuan trade... More »
BEIJING China’s move to devalue its currency reflects a growing clamor within government circles for a weaker yuan to help struggling exporters, ensuring the central bank remains under pressure to drag it down further in the months ahead, sources said. The yua... More »
WASHINGTON Republican presidential candidate Donald Trump on Tuesday said China’s devaluation of the yuan would be “devastating” for the United States. “They’re just destroying us,” the billionaire businessman, a long-time critic of China’s currency policy, sa... More »
