Chinese Currency Yuan

Standard Chartered China has become the latest bank that has joined China’s CBDC pilot. This means that Standard Chartered Bank in the Asian nation will now allow its users to access the digital version of the Chinese Yuan.

The rupee gained slightly on Tuesday, driven by an easing dollar on less hawkish US central bank bets.

A central bank digital currency trial focused on cross-border transactions has been completed, the Bank for International Settlements (BIS) said, with Chinese state-owned banks participating as Beijing tries to internationalise its digital yuan.

Bangladesh has allowed banks to maintain accounts in Chinese currency for overseas transactions to reduce dependency on the US dollar.

Bearish bets on Asian currencies reduced on signs that China's economic pain may abate with easing of COVID-19 curbs

Tether has announced the launch of MXNT, a new type of stablecoin backed by Mexico’s national currency, the peso. Initially, MXNT will be available on three main blockchains – Ethereum, Tron, and Polygon.

The rupee on Monday declined by 36 paise and closed to an over nine-month low. The rupee opened lower at 72.03 and fell to an intraday low of 72.25 against the greenback. The rupee settled at 72.02 against the American currency. The depreciation in rupee was in line with weakness in currencies such as Turkish lira, Chinese yuan, and Australian doll...

The rupee opened lower against the US dollar at 72.03 on Monday, and declined to as much as 72.25 - down 59 paise from the previous close - in afternoon deals. That marked the lowest intraday level recorded for the rupee so far in calendar year 2019. Analysts say weakness across emerging market currencies with the Chinese yuan hitting an 11-year lo...

The rupee on Thursday plunged by 26 paise and closed at an over eight-month low. The rupee opened weaker at 71.65 a dollar and touched an intraday low of 71.97 before closing at 71.81 against the American currency. The depreciation in rupee's value came on the back of sharp declines in equity markets and foreign fund outflows. The sudden drop in Ch...

Prior to the market opening, the People's Bank of China (PBOC) set the midpoint rate at 7.049 per dollar prior to market open, weaker than the previous fix of 7.0433.

Investors piled on long rupee bets in a return to bullishness earlier this month after a year, the poll of 12 respondents showed.

China is following a policy to make yuan the dominant currency, but currently it remains far behind the US dollar in international financial transactions unrelated to trade, Indian-American economist Gita Gopinath said.

There is "no evidence" Chinese authorities have been intervening to move the exchange rate of the yuan, a senior International Monetary Fund official said Tuesday.

The United States is monitoring the recent weakness in China's yuan currency and will review whether the currency has been manipulated, Treasury Secretary Steven Mnuchin told Reuters on Friday.

The rupee extended Thursday's losses as it hit a record low of 69.13 per dollar in early trade on Friday, tracking weakness in the yuan, reported news agency Reuters. The rupee was trading at 69.11/12 per dollar as of 9:20 am, compared with the previous close of 69.0650/0750. However, rupee recovered from its all-time low, rising 9 paise to 68.96 a...

Standard Chartered China has become the latest bank that has joined China’s CBDC pilot. This means that Standard Chartered Bank in the Asian nation will now allow its users to access the digital version of the Chinese Yuan.

The rupee gained slightly on Tuesday, driven by an easing dollar on less hawkish US central bank bets.

A central bank digital currency trial focused on cross-border transactions has been completed, the Bank for International Settlements (BIS) said, with Chinese state-owned banks participating as Beijing tries to internationalise its digital yuan.

Bangladesh has allowed banks to maintain accounts in Chinese currency for overseas transactions to reduce dependency on the US dollar.

Bearish bets on Asian currencies reduced on signs that China's economic pain may abate with easing of COVID-19 curbs

Tether has announced the launch of MXNT, a new type of stablecoin backed by Mexico’s national currency, the peso. Initially, MXNT will be available on three main blockchains – Ethereum, Tron, and Polygon.

The rupee on Monday declined by 36 paise and closed to an over nine-month low. The rupee opened lower at 72.03 and fell to an intraday low of 72.25 against the greenback. The rupee settled at 72.02 against the American currency. The depreciation in rupee was in line with weakness in currencies such as Turkish lira, Chinese yuan, and Australian doll...

The rupee opened lower against the US dollar at 72.03 on Monday, and declined to as much as 72.25 - down 59 paise from the previous close - in afternoon deals. That marked the lowest intraday level recorded for the rupee so far in calendar year 2019. Analysts say weakness across emerging market currencies with the Chinese yuan hitting an 11-year lo...

The rupee on Thursday plunged by 26 paise and closed at an over eight-month low. The rupee opened weaker at 71.65 a dollar and touched an intraday low of 71.97 before closing at 71.81 against the American currency. The depreciation in rupee's value came on the back of sharp declines in equity markets and foreign fund outflows. The sudden drop in Ch...

Prior to the market opening, the People's Bank of China (PBOC) set the midpoint rate at 7.049 per dollar prior to market open, weaker than the previous fix of 7.0433.

Investors piled on long rupee bets in a return to bullishness earlier this month after a year, the poll of 12 respondents showed.

China is following a policy to make yuan the dominant currency, but currently it remains far behind the US dollar in international financial transactions unrelated to trade, Indian-American economist Gita Gopinath said.

There is "no evidence" Chinese authorities have been intervening to move the exchange rate of the yuan, a senior International Monetary Fund official said Tuesday.

The United States is monitoring the recent weakness in China's yuan currency and will review whether the currency has been manipulated, Treasury Secretary Steven Mnuchin told Reuters on Friday.

The rupee extended Thursday's losses as it hit a record low of 69.13 per dollar in early trade on Friday, tracking weakness in the yuan, reported news agency Reuters. The rupee was trading at 69.11/12 per dollar as of 9:20 am, compared with the previous close of 69.0650/0750. However, rupee recovered from its all-time low, rising 9 paise to 68.96 a...