Chinese Yuan continues its rise to prominence as a Top 10 global payments currency LeapRate

January 26, 2014 BY Gerald Segal

Chinese Yuan continues its rise to prominence as a Top 10 global payments currency

Chinese policymakers are facing a challenging dilemma with interest rates and Renminbi liberalization According to a fresh batch of data for December 2013 released by SWIFT, the Renminbi is now in 8th place in transactions volumes tracked by the global payments system. While constituting a meager 1.12% of global transactions, the amount has risen 15%…

January 21, 2014 BY Gerald Segal

Supported by CITIC ex-FX Concepts executives start a new fund

CITIC is a unit of Chinese sovereign wealth fund, will focus on trading emerging FX, Renminbi Just a week after former CEO of FX Concepts John Taylor has announced that he is going back to business, two other executives, namely Robert Savage and Ron DiRusso have announced that they are starting their own venture. More…

January 20, 2014 BY Gerald Segal

Citi launches automated Renminbi pooling for its Shanghai FTZ clients

Chinese Yuan funds can be moved freely between onshore and offshore entities Another change to the Chinese Yuan forex market is on the way, as Reuters reports that Citi has set up a cross-border facility that enables Shanghai Free Trade Zone based multinationals to move funds freely between their onshore and offshore entities. Up until…

January 13, 2014 BY Gerald Segal

China to speed up Yuan convertibility

The central government wants a piece (or rather, a big chunk) of the reserve currency pie Over the weekend China’s forex regulator State Administration of Foreign Exchange said in a statement that acceleration of the Renminbi convertibility is one of the major goals for authorities. With the Shanghai Free Trade Zone being the test bed…

Tag: Chinese Yuan convertibility