To meet the market needs of huge RMB cash pools and keep in line with the trend of RMB internationalization by China, TAIFEX intends to launch RMB forex futures during the first half of this year
Read moreThe yuan, also known as the renminbi (RMB), overtook the Canadian dollar and the Australian dollar to enter the top five of world payment currencies in November, according to a SWIFT statement.
Read moreIn 2014, the yuan was used for over $1.6 trillion of international payments, according to information from the Chinese central bank that was published early this week, and has swap agreements with 14 countries. China is demonstrating a clear will for the yuan to become a reserve currency
Read moreThese checks will help banks "curb illegal FX operations and criminal activities" and limit their risk exposure, China's State Administration of Foreign Exchange (SAFE) said. In the press conference held today, Wang Yungui, director of the Comprehensive Department at the SAFE also made note of FX margin trading...
Read moreCourting Chinese traders, FxPro has increased its leverage to 1:100 at a time in which China's sovereign currency is becoming a key instrument on the world stage
Read moreChinese authorities have thrown the gauntlet open by establishing an official yuan clearing hub in Sydney, giving increased hope to Western market participants wishing to do business in China
Read moreThe UK is set to become the first foreign country to print an offshore renminbi bond, a move that points to the currency's growing global appeal and the UK's desire for London to be the major offshore renminbi hub.
Read moreChina and Russia's ever-strengthening trade partnership develops further as the sovereign currencies of the two nations become closer, and access to yuan and ruble liquidity from within both nations is advanced
Read moreChina will start direct trading between the yuan and the euro as soon as tomorrow as the world’s second- largest economy seeks to spur global use of its currency. The move will lower transaction costs and so make yuan and euros more attractive to conduct bilateral trade and investment, the People’s Bank of China said…
Read moreThe Singapore Exchange (SGX) is adding new Asian foreign exchange futures contracts on the Chinese yuan, Japanese yen and Thai baht, to further augment its successful suite of forex offerings. The new Asian FX contracts will be available for trading from Oct 20th. The expanded suite is in line with G20 recommendation to encourage trading…
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