China's renminbi (RMB) is on track to become the third-largest international currency behind the US dollar and the euro within five years as the eastern nation accelerates promotion of its unit, says a study. Last year, RMB cross-border trade settlement amounted to 4.63 trillion yuan ($746 billion), up 57.5% from 2012. It accounted for 2.5%…
Read moreThe move would save transaction fees and hedge against forex volatility.
Read moreThe rise of the renminbi's prominence to the global economy, along with China's huge status as creditor nation, has made SAFE an increasingly important player in international forex and financial markets...
Read moreIn China's foreign exchange spot market, the yuan is allowed to rise or fall by 2 percent from the central parity rate each trading day.
Read moreChina's central bank said on Wednesday that the Chinese currency will be traded directly against the British pound in the interbank foreign exchange market, in the latest step to facilitate investment and bilateral trade between China and Britain. This update comes as finally China Construction Bank was named the clearing bank in London for the…
Read moreIn April, 2.6% of global yuan payments was carried out through the U.S., up from 1.3% a year ago, putting the U.S. ahead of Taiwan as an offshore yuan trading center, Swift said.
Read moreHong Kong's national financial markets regulator held a dialog with Australian officials as the Antipodean nation focuses on trade with mainland China.
Read morePepperstone is proud to announce the addition of the USDCNH currency pair.
Read moreIFC Markets provides its clients with Forex and CFD trading through its own-generated trading platform NetTradeX, which is available on PC, iOS, and Android. The platform is available in 15 languages. Recently, a significant demand has been presented towards China's currency Renminbi (RMB). The currency is traded both onshore and offshore, and when talking about…
Read moreThe firm also improves spreads on all existing spot CNH crosses Saxo Bank, the largest European-based Forex trading firm (and a member of LeapRate's Approved List of Forex firms) has today added a new FX spot cross to the platforms. The bank is now trading spot gold against Chinese offshore renminbi (XAUCNH). Elizabeth Missfeld who works…
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