Foreign exchange


Chinese yuan plunges in March as foreign exchange reserves decline

Chinese yuan plunges in March as foreign exchange reserves fall

(ATF) After the fastest appreciation in history last year the exchange rate of the RMB/yuan suddenly hit turbulence in March, which saw a month of decline, and has led to head scratching on whether the Chinese currency will start appreciating again – or is this turnaround a longer-term trend?The offshore …

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Don’t panic yet! Yuan hits 4-month low

Don’t panic yet! Yuan hits 4-month low

(ATF) Recent changes in the yuan exchange rate have attracted widespread attention. It has now hit a four-month low, and devaluation of the yuan has led to introspection.What is the new low yuan exchange rate?According to the financial sector, on Tuesday March 30, the China Foreign Exchange Trading Centre said …

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US dollar index soars, yuan drops below 6.52

US dollar index soars, yuan drops below 6.52

(ATF) The US dollar index soared on Wednesday March 24, causing the RMB and yuan exchange rates to both fall below 6.52 to the USD.Speeches made by US Treasury Secretary Janet Yellen and Federal Reserve chairman Jerome Powell on March 23, US local time, stimulated the market’s risk aversion and …

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Debt is the grey rhino risk, top China economist warns

Debt is the grey rhino risk, top China economist warns

(ATF) Recently, US President Biden signed the $1.9-trillion US Economic Relief Act. After he took office, Biden was committed to implementing a series of new deals. As the world struggles with the pandemic, what will happen to the US dollar and RMB? Guan Tao, chief economist at Bank of China …

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Chinese authorities trying to rein in the yuan

Authorities trying to rein in surging yuan

(ATF) The dollar rose about 0.5% to the yuan on Friday March 12, but Chinese authorities appear to have been trying to rein in their surging currency. China has long held a tight grip on the RMB/yuan due to concerns that excessive volatility could affect capital flows and harm the …

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Yuan firm after a soft start, swinging higher on dollar selling

Yuan firm after a soft start, swinging higher on dollar selling

(ATF) The Chinese yuan firmed after the currency was guided to a near two-and-a-half-month low against the dollar before recovering swiftly with a jump in trading later on Tuesday, supported by heavy dollar selling and central banker comments.With the US dollar strengthening recently, the yuan exchange rate has fluctuated downward. …

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USD and yuan flutter, dong takes a tumble

USD and yuan flutter, Vietnamese dong takes a tumble

(ATF) The Chinese yuan inched up against a weaker dollar on Wednesday (March 3), with market sentiment gradually recovering from a top banking regulator's comments made a day earlier about managing capital inflows.Prior to trading, the People's Bank of China set central parity of the yuan against the US dollar …

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Yuan hits choppy waters in its slow 2021 rise

Yuan hits choppy waters in its slow 2021 rise

(ATF) Guan Tao, the Global Chief Economist with Bank of China Securities and a director of the China Chief Economist Forum, has offered his insights on how the yuan may perform in coming months. The foreign exchange market in January saw the yuan exchange-rate rise sharply at the beginning of …

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Candid thoughts as yuan becomes world’s fifth global currency 

Candid thoughts as yuan becomes world’s fifth global currency 

(ATF) Currently, the yuan still accounts for a low proportion of financial transactions around the world. The latest report of the International Monetary Fund put global foreign exchange reserves at $12.25 trillion as of the third quarter of 2020. Yuan reserves totalled $244 billion, which made it the fifth largest …

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Chinese yuan edges higher, despite rise in US Treasury rates

Chinese yuan edges higher, despite rise in US Treasury rates

(ATF) China's yuan edged higher against the US dollar on Thursday on a firmer fix by the country's central bank. The People's Bank of China (PBOC) set the yuan's midpoint rate at 6.4522 per dollar, slightly over Wednesday's 6.4615. The onshore RMB exchange rate against the US dollar fell slightly …

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