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A stronger currency makes imports cheaper, and aids China authorities’ long-term goal of internationalising the currency The renminbi strengthened beyond the key seven per US dollar level…
On Dec 23, onshore yuan ends at 7.0287 per US dollar, while its offshore counterpart fetches 7.0181 at 4.30pm SGT China’s renminbi climbed to a 15-month high against a weakening US dollar…
The agreements come amid a greater push from China to promote cross-border RMB settlement and other financial services DBS Bank was appointed as the second renminbi (RMB) clearing bank in…
The clients include exporters, importers and some investors in overseas financial assets Chinese banks helped clients offload overseas currencies at the fastest pace since 2020 last month,…
The combined actions of the lenders mark a reversal from last year’s efforts to defend the weakening renminbi [SHANGHAI/BEIJING] China’s major state-owned banks ramped up US dollar buying…
The sharp increase highlights Beijing’s determination to accelerate the use of the renminbi in global trade China’s central bank asked its major lenders to raise the share of…
South Korea, Singapore and China’s currencies are likely to be the biggest Asian beneficiaries as central banks look to diversify their reserves away from the US dollar, according to…
CHINA announced more tools to support its weak currency on Monday (Jan 13), unveiling plans to park more US dollars in Hong Kong to bolster the renminbi and to improve capital flows by…
