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  • April 18, 2014
  • Last updated: 10:57pm
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  1. Business - Banking & Finance

    Central banks' investment in yuan puts currency nearer reserve status

    Posted Apr 07th 2014, 04:38am by Jeanny Yu

    ... Jeanny Yu in Singapore jeanny.yu@scmp.com Investment by dozens of central banks comes despite currency not being fully convertible Yuan moves fast on path to reserve status, says StanChart At least 40 central banks have invested in the yuan and several others are preparing to do so, putting the mainland currency on the path to reserve status even before full convertibility, Standard ...

  2. Business - Banking & Finance

    Yuan still rising based on real effective exchange rate, ministry says

    Posted Mar 19th 2014, 01:26am by Victoria Ruan

    ... the yuan's depreciation against the US dollar in recent weeks, its real effective exchange rate- more closely linked to the trade situation- remained on the rise, Commerce Ministry spokesman Shen Danyang said. The yuan's real effective exchange rate, compiled by the Bank for International Settlements, had gained 2.03 per cent in January, Shen said yesterday after being asked whether ...

  3. Business - Banking & Finance - CURRENCIES

    Investors warned of more fluctuations in yuan

    Posted Mar 04th 2014, 05:09am by JANE CAI, Victoria Ruan, Kwong Man-ki

    ... band expected for yuan The mainland's foreign exchange chief has warned investors to expect more fluctuations in the value of the yuan as the currency moves towards a more market-based ... the band in which the yuan traded, currently set at no more than 1 per cent either side of the reference rate set by the central bank every day, saying instead that greater two-way movement should ...

  4. Business - Economy - MONITOR

    The yuan is falling, but only because Beijing wants it to

    Posted Mar 03rd 2014, 02:59am by Tom Holland

    ... Tom Holland Despite talk of a greater role for market forces, the currency is still far from freely floating with constant interventions from the central bank The yuan is falling, but only because Beijing wants it to It is hard to fathom quite why so many people have been surprised by the recent fall in the value of the yuan. Over the past couple of weeks, the mainland currency has ...

  5. Comment - Insight & Opinion

    Fall in yuan can have upside, too as credit risk can be properly priced

    Posted Mar 01st 2014, 04:35am by SCMP Editorial

    ... SCMP Editorial Fall in yuan can have upside, too Beijing has served notice that speculation in the Chinese currency is no longer a one-way bet. The market is coming to terms with the fact that a sharp depreciation of the yuan in recent days, including the biggest intra-day fall since 2007 yesterday, is policy-driven ahead of an anticipated widening of the unit's daily trading ...

  6. Business - Economy - CURRENCIES

    Canada steps up push to create yuan trading hub

    Posted Feb 08th 2014, 05:12am by Bloomberg

    ... Bloomberg in Toronto Canada steps up push to create yuan trading hub Canada is stepping up efforts to become North America's first yuan trading hub as China looks to open up its ... to explore opportunities in yuan," Jack Aubry, a finance department spokesman, said last month. "The government of Canada supports private-sector-led initiatives towards ...

  7. Business - Banking & Finance - CURRENCIES

    Yuan rebound likely amid Beijing's bid to stem capital flight

    Posted Apr 09th 2014, 01:40am by BLOOM

    ... Bloomberg Nomura forecasts a 3.5pc rebound in the currency as Beijing seeks to maintain stability Yuan gain likely in bid to stem capital flight The yuan is poised to recover from declines ... which had the best estimates for the yuan over the past four quarters, predicts a 3.5 per cent advance to six per US dollar by the end of this year, matching the median projection of analysts ...

  8. Business - Banking & Finance

    Yuan set for biggest decline in 20 years

    Posted Apr 01st 2014, 01:20am by BLOOM

    ... Bloomberg Yuan set for biggest decline in 20 years The yuan was set to complete the biggest quarterly decline in two decades after the mainland's central bank widened the currency's trading band amid concern growth in the economy is losing momentum. The People's Bank of China doubled the yuan's permitted divergence from a daily reference rate to 2 per cent ...

  9. Business - Banking & Finance - CURRENCIES

    Yuan to be fully convertible by 2017, says Gulliver

    Posted Mar 28th 2014, 01:40am by Jeanny Yu

    ... Jeanny Yu jeanny.yu@scmp.com Yuan fully convertible by 2017, says Gulliver The yuan will achieve full convertibility earlier than expected as Beijing pushes forward reforms, but its global ... "The reform process will not slow down. If anything, it will increase in speed, albeit in a controlled manner," Gulliver said yesterday in a forum on the yuan held by HSBC. The reform ...

  10. Business - Banking & Finance

    Yuan overtakes euro to become second-most used finance currency

    Posted Dec 04th 2013, 05:27am by Jeanny Yu

    ... Jeanny Yu jeanny.yu@scmp.com Yuan takes No 2 spot in trade finance The yuan has surpassed the euro to become the second-most commonly used currency in global trade finance, after the US dollar. Yuan usage in trade finance grew to 8.66 per cent in October from 1.89 per cent in January last year, according to the Society for Worldwide Interbank Financial Telecommunication (Swift). ...




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