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  • August 22, 2014
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  1. Business - Money

    Yuan hailed as the world reserve currency

    Posted Nov 07th 2012, 12:00am by Kevin Rafferty

    ... anxious to share in the lucrative business opportunities they see in the internationalisation of the yuan to challenge the US dollar as the global currency of choice. Anita Fung, Hong Kong chief ... greater international use of the currency. It is easy to understand the pressures for China's currency to become an international reserve currency. The system of international reserve ...

  2. Mainland faces currency battle

    Posted May 07th 2012, 12:00am

    ... pre-eminence as an offshore centre for the currency. Now, though, with the central government and central bank making clear their aim of seeing the yuan one day attain reserve currency status, ... of their currencies in the yuan, then a critical mass is reached.' At a policy level, Poon notes that China's ambitions in this respect are partly symbolic and partly a consequence of its position ...

  3. Despite high hopes, yuan will remain a second-rate currency

    Posted Mar 21st 2012, 12:00am

    ... of those who believe it is the manifest destiny of the yuan to displace an ailing US dollar as the world's foremost trading and reserve currency, providing the mainland with incalculable ... end in its own right, but rather because they see currency liberalisation as an effective means to promote necessary domestic financial reforms. The reformers- notably at the central bank- ...

  4. Beijing extends currency buying

    Posted Mar 17th 2012, 12:00am

    ... Lulu Chen lulu.chen@scmp.com China was a net purchaser of foreign currency for a second straight month in February, reflecting increasing capital inflows, easing liquidity conditions and rising confidence in the yuan last month, economists said. The People's Bank of China bought a net 25.12 billion yuan (HK$30.74 billion) of foreign currency last month compared with a net ...

  5. Five reasons yuan is no threat to dollar as reserve currency

    Posted Feb 10th 2012, 12:00am

    ... Tom Holland tom.holland@scmp.com If I had US$100 billion for every time someone has told me that the yuan is going to displace the US dollar as the world's foremost reserve currency, I reckon I'd have almost as much in foreign reserves as China. Yet I remain sceptical. For the yuan to become a major reserve currency, China will first have to fulfil several important ...

  6. Global reserve currency proves to be a curse for the issuing country

    Posted Oct 15th 2011, 12:00am

    ... of a global-reserve-currency country and the needs of the world that uses that reserve currency. Triffin predicted that the reserve-currency country would run a current-account deficit to provide the world ... the accounting unit issued by the International Monetary Fund- as a possible global reserve currency. The logic for a globally issued reserve currency is impeccable. Nationally issued reserve currencies ...

  7. The ruinous costs of China's 'free-ride' currency policy

    Posted Oct 11th 2011, 12:00am

    ... currency. In Beijing, officials are indignant with outrage. Forcing China to appreciate its currency will benefit no one, they insist. But although they may well be right to argue that more rapid yuan appreciation will do little to support economic growth in the US, there is one country that would gain from a stronger yuan: China. The US politicians who support the Currency Exchange ...

  8. How to nurture a blooming currency

    Posted Oct 20th 2011, 12:00am

    ... this year, the mainland held the world's largest amount of foreign currency reserves, valued at US$3.2 trillion, or more than 20,000 times its level in the 1950s. The value of the renminbi, ... is trying to internationalise its currency, albeit through a piecemeal process. When Vice-Premier Li Keqiang visited Hong Kong in August, he offered further support for the internationalisation ...

  9. HK investors seek better yields in foreign currencies

    Posted Sep 08th 2011, 12:00am

    ... Amanda Lee amanda.lee@scmp.com Hong Kong's retail investors might have given stocks the cold shoulder lately, but demand for foreign currencies is heating up. 'I bought ... more to pay my son's college fees. I have even sold some of it.' Higher yielding currencies- such as the Australian and New Zealand dollars- appeal to Hong Kong savers who face low ...

  10. Can Asian currencies rise to global challenge?

    Posted Aug 26th 2011, 12:00am

    ... Alessandro Magnoli Bocchi Over the past two years, most currencies' exchange rates have fluctuated at an unprecedented pace. This volatility is due to two global policy responses ... macroeconomic environment creates foreign-exchange volatility. Second, currency devaluation is an attractive alternative to cutting public spending. Today, the US, Europe and Japan- but also China, ...




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