Alamy The latest batch of US sanctions against Russia will promote further use of the yuan, a think tank said. It argued that as ruble volatility increases, the Chinese currency will offer stability. While sanctions also threaten Chinese entities, they won’t be enough to disrupt yuan trading, it said. Fresh sanctions on Russia are too […]
(Bloomberg) — Asian equities slipped as traders considered the sustainability of a tech-driven rally that’s pushed a key benchmark to a near two-year high. The offshore yuan weakened to the lowest this year. Most Read from Bloomberg Japanese and Chinese stocks led the weakness in regional equities. The MSCI Asia Pacific Index fell as much […]
China is pushing yuan use globally to guard against potential Western sanctions. Beijing aims to reduce risks from sanctions in geopolitical tensions, like over Taiwan. But China’s trade partners face challenges in using more yuan. China is on a drive to expand the use of the yuan internationally. But Beijing’s near-term intent is more about […]
SHANGHAI/BEIJING (Reuters) -China’s finance ministry plans to start raising 1 trillion yuan ($138 billion) in long-awaited, long-term special treasury bonds this week to raise funds it will use to stimulate key sectors of its flagging economy. The finance ministry confirmed what four sources had told Reuters earlier on Monday that the 1 trillion yuan ($138.23 […]
Russia’s central bank says it has few alternatives other than the Chinese yuan as a key reserve asset. The West is tightening its sanctions on Russia. Russia cites the yuan’s rising international role and liquidity as reasons for its choice. Russia’s central bank is feeling the heat from tightening Western sanctions. In a report released […]
(Bloomberg) — Japanese stocks declined as the yen rose after the country’s top currency official warned against speculative moves in the foreign-exchange market. The yuan climbed following signs of support from Chinese authorities. Most Read from Bloomberg Tokyo’s Topix index dropped over 1% Monday after recording its biggest weekly gain in two years. South Korea’s […]
(Bloomberg) — China refrained from cutting a key policy interest rate as its central bank sought to shield the yuan from volatility, underscoring the challenges policymakers face as they try to manage economic risks and pressures from deflation. Most Read from Bloomberg The People’s Bank of China held the interest rate on its one-year policy […]
SINGAPORE (Reuters) – In recent months, China has sought to stabilise the yuan by orchestrating buying by state banks and giving market guidance to bankers. The strategy of moral suasion marks a sharp break from Beijing’s approach the last time the currency was on the ropes, in 2015. Back then, the People’s Bank of China […]