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PBOC's Yuan Support Through Fixing Causes Headache for Companies – Yahoo Finance

(Bloomberg) — The People's Bank of China used an artificially strong benchmark exchange rate this year to protect its currency from weakening. This intervention caused unintended pain for some people. Most Read Articles on Bloomberg For years, Chinese companies have based their foreign exchange accounting on the People's Bank of China's daily renminbi determination, rather […]

Exclusive: China's state banks seen swapping and selling dollars for yuan – Reuters

This illustration taken on March 10, 2023 shows Chinese Yuan and US dollar banknotes.Reuters/Dado Ruvic/Illustration/File photo Obtaining license rights SHANGHAI, Nov 21 (Reuters) – China’s major state-owned banks were seen this week exchanging renminbi for U.S. dollars in onshore swap markets and selling the dollars in spot currency markets, two sources familiar with the matter […]

Cheap yuan catapults China to second-biggest trade funding currency – Reuters

SHANGHAI/SINGAPORE, Nov 17 (Reuters) – Global companies have jumped into China’s bond market, issuing record amounts of renminbi-denominated bonds, borrowing heavily from mainland banks and It is taking advantage of rock-bottom renminbi interest rates as financing costs in the region soar. Companies and banks are raising record amounts of cash through renminbi-denominated bonds issued in […]

China will guard against yuan overshooting risks – PBOC publication – Reuters

BEIJING (Reuters) – People’s Bank of China (Central Bank) Governor Pan Gongsheng said China will firmly guard against the risk of an overshoot in the renminbi exchange rate, according to a report in the People’s Bank-affiliated newspaper Financial News on Wednesday. . The comments come as the Chinese yuan has depreciated more than 5% so […]

Yuan is higher after some Chinese banks sold USD/CNY – ForexLive

High risk warning: Foreign exchange trading involves a high level of risk and is not suitable for all investors. Leverage introduces additional risks and losses. Please consider your investment objectives, experience level, and risk tolerance carefully before deciding to trade foreign exchange. You may lose some or all of your initial investment. Don’t invest money […]

Dollar holds steady, yuan rises on better-than-expected China data – Reuters

This illustration taken on July 17, 2022 shows a US dollar bill. REUTERS/Dado Ruvic/Illustration/File Photo Obtaining license rights TOKYO, Sept 15 (Reuters) – The dollar held steady in Asian markets on Friday, pulling back slightly from overnight gains against its peers as the yuan strengthened on economic data that outperformed some Chinese markets. . The […]

Rupee advances tracking yuan rally on comments from China forex regulator – Reuters

A man counts Indian banknotes inside a store in Mumbai, India, August 13, 2018. Reuters/Francis Mascarenhas/File Photo Obtaining license rights MUMBAI, Sept 11 (Reuters) – The Indian rupee strengthened on Monday, following a rise in the yuan after China’s foreign exchange regulator said it would firmly avoid the risk of currency overshoot. The rupee was […]

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