Page 3 - Yuan

Chinese stocks slide as leadership overhaul disappoints investors

The offshore yuan weakened as much as 0.7% to 7.2782 per dollar Monday morning to approach a record low seen last week

China's digital currency passes 100 bn yuan in spending, says central bank

The spending involved 360 million transactions in pilot areas in 15 provinces and municipalities, the People's Bank of China (PBOC) said

China's falling yuan worries Xi Jinping ahead of 20th National Congress

Ahead of the 20th National Congress, the fall of the yuan, also known as Renminbi, is embarrassing for China which always boasts of a strong currency as evidence of its economic stability

As yuan nears lowest level in 14 yrs, traders brace for more PBOC pushback

The People's Bank of China has already stepped up its currency defense, but it did little to stop the depreciation.

China cuts forex reserve requirement ratio in bid to support tumbling yuan

Financial institutions will need to hold 6% of their foreign-currency deposits in reserves starting from Sept. 15, the PBOC said in a statement on Monday-- lower than the current level of 8%

Russia mulls buying $70 billion in yuan, other 'friendly' currencies

The yuan briefly extended gains against the dollar after the news, rallying to a session high.

Yuan has no basis for long-term depreciation, says Chinese state media

The Chinese currency has weakened to two-year lows against the dollar this week, reacting to expectations of further aggressive interest rate hikes from the Fed and a domestic economic slowdown

Euro slumps to two-decade lows against dollar as energy crisis bites

China's yuan weakened to a two-year low, while sterling briefly touched its weakest since March 2020.

Euro again below parity versus dollar; gas supply crisis weighs

China's yuan dropped to its lowest in nearly two years after the central bank cut key lending rates.

Indian rupee at 4-week low; set to breach 80-level against USD, say traders

The partially convertible rupee fell 0.1% to 79.875, having dropped to its lowest level since July 27 at 79.9125.

Dollar firm vs Aussie, euro, Chinese yuan on heightened recession worries

The safe-haven U.S. dollar hovered near a one-week high on Tuesday while the Aussie, euro and Chinese yuan remained under pressure as weak global economic data reignited recession fears.

Dollar jumps on safety flows after China data, yuan slips on rate cut

The U.S. dollar index against six peers rose 0.6% to 106.3, consolidating near the middle of its range this month. The euro eased 0.6% against the dollar to $1.0191, after touching a one-week low.

Understanding the e-yuan initiative

There is merit in carefully examining the recent developments in China's sovereign digital currency space and participating in it if India's interests are served

How Indian cement maker Ultratech bought Russian coal using yuan

There is no suggestion that the purchase, the particulars of which have not previously been reported, in any way breaches sanctions imposed on Russia in the wake of its invasion of Ukraine

Chinese currency weakens 260 pips to 6.7246 against dollar in early trade

The central parity rate of the yuan against the US dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day

UltraTech Cement paying for Russian coal in Chinese yuan: Report

UltraTech importing from Russian producer SUEK, valued at 172.7 mn yuan; SUEK's Dubai unit facilitated trade from Russia's Vanino port; traders say other companies set to pay in yuan for Russian coal

Only 58% of global reserves are now in USD. Can the renminbi replace it?

While more reserves are now held in the renminbi, it is still less than one-fourth of the total shift away from the dollar, that too mostly by Russia

Foreign investors dump yuan amid China's Covid-19 lockdown, rate cuts

Foreign investors are dumping yuan and fleeing China post Covid-19 lockdown and rate cuts which is exacerbating foreign capital outflow

Chinese banks overflow with cash that nobody wants to borrow amid lockdowns

Struggling to find enough clients, banks have been swapping bills with each other just so they can meet regulatory requirements for corporate lending

Dollar slips from 2-decade highs; yuan falls on account of weak China data

Following the release of China's data, Bipan Rai, North America head of FX Strategy at CIBC Capital Markets, said trading was focused on macro economic data