Currency


Taipei's foreign exchange reserves rise at a record monthly pace

Taipei's foreign exchange reserves rise at a record monthly pace

(ATF) Taiwan's foreign exchange reserves rose by over US$16.5 billion in December, the fastest monthly rise on record, as the central bank announced it needed to intervene in the forex market to cope with a flood of foreign capital.Total forex reserves stood at US$529.91 billion as of the end of …

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China puts brakes on strongest yuan in 30 months

China puts brakes on strongest yuan in 30 months

(ATF) Beijing has raised the quota for domestic firms giving overseas loans and said it will relax the rules on cross-border yuan use – two moves that analysts say will cool the strengthening of the yuan, which has rallied to a 30-month high against the greenback.China's central bank raised its …

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Markets pare gains after Trump’s threat

Markets pare gains after Trump’s threat

(ATF) Hong Kong: Asian markets were rattled by US President Donald Trump’s tweeted threat to block the $892 billion coronavirus relief bill in a veto that could result in a partial government shutdown in the world’s largest economy.But the undertone was firm and despite the market giving up some of …

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Trump's parting trade shot at ‘currency manipulator’ Vietnam 

Trump's parting trade shot at ‘currency manipulator’ Vietnam 

President Donald Trump is likely to unveil proposed tariffs on Vietnamese goods before he leaves office in January, currency and trade experts say, after the US Treasury branded the growing trade partner a "currency manipulator" last week. US companies that import goods from Vietnam should brace themselves for significant tariffs …

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Markets tripped by stalled stimulus talks, US-China tensions 

Markets tripped by stalled stimulus talks, US-China tensions 

(ATF) Hong Kong: Asian markets retreated on Thursday after US stimulus talks stalled and US-China tensions intensified after Beijing revoked some visa exemption treatment for American diplomatic passports.Meanwhile, S&P Dow Jones Indices announced that 10 Chinese companies included in its benchmarks will be ineligible for inclusion from December 21, following …

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China leads region after robust industrial profits

China leads region after robust industrial profits

(ATF) Hong Kong: Asian markets were broadly firm after data showed industrial profits in China surged at the fastest pace since early 2017 but the mood remained cautious as the coronavirus pandemic burned its way across Europe and the US.Globally, the infection count has exceeded 61 million with more than …

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China gets new bank note. But why?

China gets new bank note. But why?

(ATF) China has released a new five-yuan banknote. But as the central banks rolls out its digital currency, and electronic payment technologies such as Alipay and WePay account for a growing number of transactions, many wonder about the purpose of the new bill.The paper note was unveiled on November 5. …

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Yuan gets an upgrade as China’s economy recovers

Yuan gets an upgrade as China’s economy recovers

(ATF) China's quick economic recovery has made it the only major economy to post growth in 2020, and the PBoC's reluctance to cut rates has analysts scrambling to raise their forecasts for the yuan.A spokesperson from the State Administration of Foreign Exchange has called for enterprises to be cautious about …

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China bonds the new global draw

China bonds now a global draw

(ATF) While uncertainty over the US election and rising geopolitical tensions have triggered a withdrawal of global capital from emerging markets, foreign cash continues to flood into yuan-denominated bonds. By the end of September, the China Central Government Securities Depository and Clearing (CCDC) had managed 2.6 trillion yuan ($385 billion) …

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