Tag Archives: yuan

Oil prices stabilized on Tuesday, after a sharp 4 percent drop in the previous session, after concerns about fuel demand in China were allayed by the central bank’s pledge to support the economy affected by Covid-19 restrictions. Brent crude futures rose 59 cents, or 0.58 percent, to $102.91 a barrel, …

Oil slumped about 6% on Monday to its lowest in two weeks on growing worries about the global energy demand outlook due to prolonged COVID-19 lockdowns in Shanghai and potential increases in U.S. interest rates.In Shanghai, authorities have erected fences outside residential buildings. In Beijing, many people have begun stockpiling …

Gold Price remains on slippery slopes. Coronavirus-related lockdowns in China are set to continue weighing on the yellow metal, economists at TD Securities report.“Gold prices are succumbing to a weakening yuan as China’s worsening COVID-19 outbreak saps the buying impulse from yet another pillar of demand for bullion.” “With little …

The Federal Reserve Bank warned on Monday that stresses in the Chinese real estate sector posed risk to the US financial system, pointing out that the impact of the heavily indebted property companies like Evergrande could be a potential source of worldwide contagion.“Given the size of China’s economy and financial …

China’s yuan inched higher against the dollar on Wednesday, as investors digested upbeat exports data and shifted focus to whether the central bank would overturn maturing loans later this week.In the spot market, the onshore yuan opened at 6.4509 per dollar and touched 6.4449, before ending at 6.4452, 20 pips …

The authorities in China’s Zhangjiajie Province on Wednesday issued a notice to officials in one of the prominent bitcoin mining centers in the region to stop all their activities related to mining bitcoin and cryptocurrencies. The notification to the authorities stated that the new instructions were based on the strict …

The recent surges in the price of Bitcoin has spurred increased demand for the Chinese digital Yuan, according to the Chinese central bank, CNBC reported. Many central banks around the world are contemplating the idea of issuing a digital version of their currencies amid an increased demand for digital and …

Investment banks are expecting the Chinese Yuan to be among the gainers from the change of leadership in the United States, Reuters reported. A Joe Biden presidency is set to see efforts to calm the rising trade tensions with China, which is expected to allow Beijing to let the value …

The Chinese yuan jumped to its highest level in 16 months against the dollar on Tuesday, September 15th after Chinese data indicated an economic recovery after isolation measures due to the Corona pandemic, while the US dollar fell as risk appetite improved. Chinese industrial production accelerated and retail sales grew …

The People’s Bank of China (PBOC) has set the yuan reference rate at 6.9194 versus Friday’s fix at 6.9107.