Tag: Chinese Yuan

Chinese yuan weakens against US dollar

The central parity rate of the Chinese currency, the renminbi or the yuan, weakened 239 basis points to 6.5207 against the US dollar on Wednesday, the lowest point in about two weeks. The softer rate came after drops in the offshore yuan against the dollar on Tuesday following rumours that the country’s central bank had …

Continue reading "Chinese yuan weakens against US dollar"

January 10, 2018

Chinese yuan exchange rate in line with fundamentals: IMF

The International Monetary Fund (IMF) has said that the Chinese yuan's exchange rate is broadly consistent with fundamentals and desirable policies. "The yuan, despite moving closer to the level consistent with overall assessment, remained broadly in line with fundamentals and desirable policies," said the IMF in its latest External Sector Report released on Friday. According …

Continue reading "Chinese yuan exchange rate in line with fundamentals: IMF"

July 29, 2017

BRICS bank to issue Chinese Yuan, Indian Rupee bonds

The BRICS New Development Bank (NDB) has planned to issue bonds twice this year, one denominated in Chinese Yuan and the other in Indian Rupee, bank's President KV Kamath said on Friday. The bank sold its first three billion Yuan worth ($437 million) Yuan-denominated bonds in China in July 2016 to fund clean energy projects in …

Continue reading "BRICS bank to issue Chinese Yuan, Indian Rupee bonds"

April 14, 2017