• Sat
  • Dec 27, 2014
  • Updated: 10:02am

Currency exchange

Taiwan banks to offer Chinese yuan services

Taiwanese banks will start allowing customers to open Chinese yuan accounts and remit funds to the mainland from Wednesday. Photo: AFP

Taiwanese banks will start allowing customers to open Chinese yuan accounts and remit funds to the mainland from Wednesday, officials said, in the latest sign of warming economic ties between the former rivals.

Tuesday, 5 February, 2013, 9:26pm

China eases rules on foreign investment

The mainland authorities are keeping a close eye on the foreign exchange market amid a strengthening in the yuan. Photo: AP

The mainland has eased rules to facilitate foreign direct investment in an effort to boost the ebbing capital inflow.

Investment coming into the country has fallen in nine of the 10 months this year, official data showed this week, while outward investment continues to surge.

22 Nov 2012 - 3:39am

Think tank predicts 5.7 yuan to the US dollar by 2017

Photo: Reuters

The exchange rate of the Chinese yuan against the US dollar will be 5.7 in 2017, Caixin reports, citing a private think tank’s prediction.

7 Nov 2012 - 3:12pm

Beijing says yuan has reached equilibrium against US dollar

Zhou Xiaochuan

China says its currency has approached its equilibrium rate against the US dollar, indicating chances are slim that the yuan will continue rising significantly.

People's Bank of China governor Zhou Xiaochuan , in a speech delivered in Tokyo on his behalf by one of his deputies, stressed the yuan's valuation is mainly determined by the market, not government intervention.

15 Oct 2012 - 8:36am