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Reserve Currency
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Renminbi's Inclusion in SDR
Oct 9, 2016"The inclusion of the renminbi in the SDR is the biggest structural event in currency markets since the creation of the euro66." This was the title of a recent article published on the Euromoney website. This neatly sums up the view of ...
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China Not The Cause of Global Economic Crisis
Jan 22, 2016The world's stock markets are spiralling downwards. The U.S. equity market fell 10 percent last month. Investor terminology calls this a "correction" not a crash. But prospects don't look good. Big investors, banks and financial ...
Tags: Economic Crisis, investment banks
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RMB's Upgrade to Reserve Currency "Good News": Ex-ambassador
Dec 28, 2015The decision by the International Monetary Fund (IMF) to confer the reserve currency status on China's renminbi (RMB), "is good news," a former Chilean diplomat said. "It's good news because it acknowledges the role that the Chinese ...
Tags: RMB's Upgrade, Reserve Currency
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Gao Hucheng Attends the 3rd East Asia Summit (EAS) Economic Ministers’ Meeting
Oct 16, 2015On the morning of August 24, Chinese Minister of Commerce Gao Hucheng, who led a delegation to attend the series meetings of East Asia Economic Ministers in Kuala Lumpur, Capital of Malaysia, attended the 3rd EAS Economic Ministers’ ...
Tags: EAS, Development and cooperation, trade liberalization
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Economies Pushing More Trade in RMB
May 25, 2015South Korea, which sends around a quarter of its exports to China, is one of the few countries in the world to run a trade surplus with the Asian giant. Both countries want more of this trade to be done in yuan, which would make trade ...
Tags: trade surplus, Chinese currency
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China to Include RMB in The Basket of The SDRs
Mar 13, 2015A senior Chinese central bank official said Thursday that the country is "actively communicating" with the International Monetary Fund (IMF) on the possibility of including Chinese currency yuan, or RMB, in the basket of the Special Drawing ...
Tags: SDR Basket, Chinese currency
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SGE Trys to Offer The Renminbi-Denominated Gold-Fixing Price This Year
Mar 12, 2015The Shanghai Gold Exchange will try to start offering the renminbi-denominated gold-fixing price this year, as an alternative to the dollar-denominated gold-fixing in London, a top bourse official said on Wednesday. SGE head Xu Luode said ...
Tags: Shanghai Gold Exchange, Gold Price
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Chinese Culture Continues to Make a Global Splash
Oct 1, 2014China and the U.S. are benefiting from and straining under 35 years of normalized relations. There have been tons of exports shipped from China to our shores during this time. However, none are more important than Chinese culture. The ...
Tags: Chinese Culture
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China-Africa Trading Will Present Three Trends
May 16, 2014Standard Chartered Bank (China) chief executive said on China-Africa trade recently, based on the standard chartered bank for many years of the successful experience in China-Africa service trade and business, we think the China-Africa ...
Tags: Economy
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The Yuan Is Expected to Be a Reserve Currency
Dec 23, 2013The yuan is expeceted to become one of the major global settlemet, payment, trading and reserve currencies in the next 15 to 20 years. According to the presiden of the Bank of China, the total volume of yuan-denominated, cross-border trade ...
Tags: Service, Yuan, Reserve Currency
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Dollar's Coming of Age as Global Reserve Currency Resulted in $200 Billion Buying Spree
Jun 18, 2013The dollar's coming of age as a global reserve currency has resulted in a $200 billion buying spree by central banks and sovereign wealth funds since the global financial crisis, adding an estimated US6c-US8c to the dollar's value, ...
Tags: Australian Dollar, JP Morgan
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Australian Dollar Sluggs It out with Syrian Pound
May 29, 2013The Australian dollar is slugging it out with the Syrian pound for the title of world's worst-performing currency. Once the darling of foreign-exchange traders, the Aussie has been out of favour since April 12. According to National ...
Tags: Syrian pound, Service, dollar
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Liberty Reserve Was Intentionally Created and Structured to Facilitate Criminal Activity
May 28, 2013The U.S. Department of Justice has indicted online payment processor Liberty Reserve for laundering $6 billion in a series of global transactions, which the agency charges may be the largest international money laundering prosecution in ...
Tags: DOJ, Liberty Reserve
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China Currency Agreement to Boost Trade Between Australia and China
Apr 11, 2013The recent landmark currency agreement between Australia and China is good news for Australian manufacturers. Under the agreement, exporters will be able to directly trade the Australian dollar with the yuan and vice versa. The deal, ...
Tags: Currency Deal, Boost Trade
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Australian Dollar Gained After US Politicians Agreed on a Range of Measures
Jan 6, 2013The Australian dollar gained yesterday after US politicians agreed on a range of measures designed to avert sweeping tax hikes and about $US110 billion ($105bn) in spending cuts, known as the fiscal cliff. The agreement boosted sentiment ...
Tags: Australian dollar, US, Dollar, fiscal cliff