currency exchange

Internationalization of the RMB by 2040?

With the renminbi in the headlines again last week after the People’s Bank of China set the dollar reference rate at a record high, The People’s Daily addressed the future of China’s currency on Monday: China...

China , Hong Kong Expand Currency-Swap Pact to $63 Billion

Amid the ‘soft landing’ that the Chinese economy is taking, China’s central bank and the Hong Kong Monetary Authority have extended their previous currency-swap bill by adding three more years and increased the...

China Inflation Ticks Lower, Policy on Pause

China’s rate of inflation decreased in September, although “not drastic enough to reduce inflationary expectations,”  and furthermore, food prices remained high. From Reuters: China’s consumer inflation...

PBOC Fixes Yuan Mid-Point at Record 6.4990/Dollar

Another day, another milestone for the yuan appreciating against the dollar. For the first time, the People’s Bank of China has fixed the value of the yuan at less than $6.50. From Reuters: The People’s Bank of China...

China Yuan Up Late On 5th Straight Record-Low Fixing

After six continuous days of increases, the Chinese yuan has reached a new high of about 6.54 yuan to 1 dollar, closing the week off at a record high. From Wall Street Journal: China’s yuan rose to a fresh high against the...

Geithner Says Strict Policy on Currency Hurts China

At a G20 sponsored international financial conference this week in Nanjing, Timothy Geithner again urged China to reform its currency exchange rates. From the NYTimes: Treasury Secretary Timothy F. Geithner urged China again on...

G-20 Leaders Not Inclined to Compromise

The Los Angeles Times reports that there was no resolution made for a compromise on global trade imbalances at the Group of 20 summit: Leaders of the world’s biggest economies showed that they were in no mood to compromise...

Ben Simpfendorfer: China’s Yuan Ambitions

From the Wall Street Journal: China is playing a growing role in discussions over solutions to current economic problems. Much of the talk has focused on money — whether Premier Wen Jiabao’s concerns about the value...

China and the Dollar

From the Wall Street Journal: As if the dollar didn’t have enough problems, Timothy Geithner took China’s bait yesterday and said he was “quite open” to its suggestion this week to displace the greenback...

China Slams Geithner’s Comments on Currency

Maureen Fan of The Washington Post reports on the response of a top Chinese banking official to Timothy Geithner’s statement that “President Obama — backed by the conclusions of a broad range of economists...

China 2008: Revaluating the Currency Question

This next article in the CDT series on important issues facing China in 2008 focuses on the revaluation of the Chinese currency, the yuan (or renminbi). See also previous posts on Nationalism, the Developing World, the Global...

Five Jailed In China For Running Underground “Bank”

From Reuters: China has jailed five people for their part in running an illegal currency exchange business that handled billions of yuan in swaps between Hong Kong and the country’s south, state media reported Saturday....

China looks to Tianjin as beacon for economy – Jason Subler

Reuters reports on what may be the next Pudong, and then some: Imagine a corner of China where the yuan is freely traded, banks can offer a full range of financial services and farmers receive fair compensation when they have to leave the land. It sounds far-fetched, but that is exactly what could happen before […]



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