The US Federal Reserve is looking to strengthen the dollar’s international role via a central bank digital currency (CBDC). Photo: Shutterstock
As US wades into digital currency arena, China’s e-yuan has a big head start

The US Federal Reserve says a central bank digital currency would support the US dollar’s international role, as its dominance in global payments is already being challenged.

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Robust export growth, ample foreign exchange liquidity and the attractiveness of Chinese assets should all help China better tackle changes in the external environment, the State Administration of Foreign Exchange said on Friday. Photo: Shutterstock
Looming Fed rate cut set to have ‘less spillover effect’ on China

The US Federal Reserve is widely expected to start hiking interest rates as early as March, and during the previous round of tightening in 2018, China’s currency depreciated sharply.

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