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China’s yuan hit a 16-month high against US Dollar

NEW YORK: China's yuan (CNY) hit a 16-month high against the US Dollar (USD) on Tuesday, after the central bank of the world's second-largest...

Cash is leaving China again

A sliding yuan and extensive outflows of cash from the mainland into Hong Kong show China's domestic investors are shelving expectations for any immediate...

China’s Yuan ousts dollar to become most traded currency

The Moscow Exchange trading volume in Chinese yuan surpassed that of the US Dollar (USD) in 2023, the Kommersant daily reported on Tuesday, as...

What is Hong Kong’s new dual HKD/RMB share counter?

The Hong Kong stock exchange will start offering yuan-denominated Chinese stocks from Monday in what it calls a dual counter, a scheme that is...

China takes next step in currency globalization

China's gradual internationalisation of its currency will shift to its next leg on Monday when about two dozen Chinese companies start trading in Yuan...

Iraq to allow trade with China in yuan

Iraq's central bank said on Wednesday it planned to allow trade from China to be settled directly in yuan for the first time, in...

Russia, China agree to use rouble, yuan for gas payments

State energy giants Gazprom and China National Petroleum Corporation (CNPC) signed several agreements on Tuesday, including on the use Russian roubles and Chinese yuan...

Explainer: Why China’s inclusion in global bond benchmarks matters

The milestone inclusion is expected to draw billions of foreign dollars into China’s $13 trillion bond market, the world’s third largest.

US wants pledge for stable Chinese yuan as talks resume: report

The US request for a pledge to keep the yuan’s value stable was aimed at neutralizing any effort by Beijing to devalue its currency to counter American tariffs

Bank of China to enable payment in yuan on U.S. e-commerce platforms: Xinhua

BEIJING: Bank of China’s New York branch will enable Chinese firms to receive payment in yuan rather than dollars from their sales on U.S....

Asian markets extend gains as trade hopes persist

HONG KONG: Optimism that China and the United States will eventually resolve their trade conflict kept Asian investors buoyant on Thursday, while emerging market...

Saudi Arabia may seek funding in Chinese yuan

JEDDAH: Saudi Arabia is willing to consider funding itself partly in Chinese yuan, a senior Saudi official said on Thursday, raising the possibility of...

US again clears China of currency manipulation

WASHINGTON: The US Treasury on Friday cleared China of keeping the yuan cheap for trade advantages, amid accusations by Republican presidential candidate Donald Trump...

Chinese yuan set to join IMF’s elite currency basket

WASHINGTON: China's yuan is poised to enter the International Monetary Fund's elite SDR basket of currencies, elevating Beijing's banknotes into a family long exclusive...

China central bank: speculators should not dominate sentiment

BEIJING: Speculators should not be allowed to dominate market sentiment regarding China's foreign exchange reserves and it was quite normal for reserves to fall as well as rise, central bank governor Zhou Xiaochuan was quoted as saying on Saturday.

Oil plunges below $29 on prospects of more Iran crude, China worries

NEW YORK: Oil prices crashed 6 percent on Friday to close below $30 a barrel for the first time in 12 years, resuming this year's breathtaking rout as Chinese stock markets fell further and traders braced for an imminent rise in Iran's exports.

China lets yuan fall faster, share trading suspended as prices tumble

China allowed the biggest fall in the yuan in five months on Thursday, pressuring regional currencies and sending global stock markets tumbling as investors feared the Asian giant could trigger competitive devaluations from its peers.

Global stock selloff on seven-year oil lows

WASHINGTON: The relentless fall of global oil prices spurred another sharp drop in global share markets Friday, as panicked investors fled the energy sector and financial stocks as well.

China busts biggest ever ‘underground bank’: police

SHANGHAI: Chinese authorities have uncovered an "underground bank" which illegally transferred money overseas in a case valued at $64 billion, said to be the country's largest ever, according to a police statement.

China official blames Fed for global market rout, not yuan

BEIJING: Concerns over a possible U.S. rate rise by the Federal Reserve may have sparked a global stock market rout rather than the devaluation of China's yuan currency, a senior Chinese central bank official told Reuters on Thursday.
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