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  1. PBOC sets yuan parity rate at 5-year high

    Posted Jun 23rd 2010, 12:00am by Staff Reporter

    ... yesterday. 'However, the yuan weakened after the strong opening, showing divided market views,' he said. The PBOC said it would revert to using a basket of currencies to fix the yuan rate. ...

  2. PBOC eases yuan restrictions in Macau

    Posted Dec 15th 2009, 12:00am by Staff Reporter

    ... medical services and education. The PBOC announcement of the yuan business expansion comes as Beijing prepares to celebrate the 10th anniversary of Macau's handover to the mainland ...

  3. Forex loss bigger than Olympic bill

    Posted Jan 25th 2008, 12:00am by Tom Holland

    ... mainland monetary policy-making. But that's not the only problem it poses for China's central bankers. After the Fed's latest reduction the PBOC is losing money heavily. That is because it is now paying a higher rate of interest on the money it borrows at home than it earns on the foreign currency bonds it buys with the proceeds. The PBOC's difficulty arises because, ...

  4. Confusion over start to offshore yuan scheme

    Posted Aug 03rd 2011, 12:00am

    ... of China (PBOC) had stopped approving offshore yuan borrowing by domestic companies in compliance with Beijing's monetary tightening measures. But PBOC and the Hong Kong Monetary Authority ... director of a monetary policy department at the PBOC, who told a finance forum in Shanghai in May that the central bank would review applications for offshore yuan borrowing 'case ...

  5. Yuan see-saws to record high against dollar

    Posted Jun 18th 2011, 12:00am

    ... the central bank is required to maintain- is allowed to expand or shrink by 0.5 per cent from the central parity rate set each day. The PBoC fixed the central parity rate at a record of 6.4716 yesterday, the biggest advance since January 14. Traders were upbeat about the yuan, saying the currency traded mostly on the strong side of the central parity rate yesterday. The PBoC may have ...

  6. Yuan is for trade, HK banks warned

    Posted Jun 22nd 2011, 12:00am

    ... the mainland's foreign exchange reserves stood at between US$195 billion and US$200 billion, according to a report by Sanford C. Bernstein. The mainland banker said the PBOC notice was a clear signal ... why PBOC should issue this announcement'. ...

  7. Vow to strengthen yuan flexibility ahead of Paulson visit

    Posted Apr 01st 2008, 12:00am by Staff Reporter

    ... Natalie Chiu The People's Bank of China (PBOC) has pledged to strengthen its currency flexibility, ahead of a visit by the US treasury secretary to Beijing starting tomorrow. The PBOC announced yesterday that it would focus on perfecting the yuan exchange rate mechanism in a proactive and controlled manner. 'The [exchange rate] system shall reflect better demand and supply ...

  8. Yuan deal great for Hong Kong, but few others care

    Posted Jul 24th 2010, 12:00am by Shirley Yam

    ... it's pegged to the dollar). Paying in [yuan] (where do they get large quantities of [yuan] from?) or being paid in [yuan] (and getting low interest rates determined by the PBOC not the money market). 'A holder of [yuan] is entirely at the whim of PBOC's rules on repatriation, settlement and rates. Just as the PBOC can make an arbitrary decision on the value of the peg, so too ...

  9. A testing ground for the yuan? Dream on, Hong Kong

    Posted Aug 12th 2010, 12:00am by Jake Van Der Kamp

    ... Beijing insists that the yuan must strengthen only very slowly, if at all. Until a balance of payments occurs, however, the PBOC has the big job of finding enough yuan to mop up all ... the PBOC say to this? You get no prize for answering the question. The PBOC would put so quick a stop to it as to put the lie to there ever having been two systems in this one country. And yet ...

  10. Hong Kong bankers face long wait to fully appreciate yuan

    Posted Jul 23rd 2010, 12:00am by Tom Holland

    ... in yuan among themselves, rather than only with the PBOC's designated clearing bank. In other words, it gives the green light for the development in Hong Kong of a real offshore interbank ... Internationally, that reluctance is compounded by scepticism about Beijing's intentions towards the yuan. There was a big fuss a month ago when the PBOC announced it was abandoning its temporary peg ...




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