-
Gulf banks debating currency peg to US dollar
11 Feb 2025 11:08 GMT
Banks have reignited the debate over whether Arabian Gulf states should peg their currencies at a fixed rate to the United States dollar, after remarks from Qatar's central bank suggesting some should examine alternatives.
Last week its director of …
-
Hong Kong newspaper seller preparing for yuan drop
25 Jan 2025 17:25 GMT
… is betting that the Chinese yuan will weaken to parity against … changing hands.
Photo: AFP
The yuan has been dragged lower by … the sinking value of the yuan against the Hong Kong dollar … Kong’s 41 year-old currency peg against the greenback.
Speculation about …
-
This Hong Kong Newspaper Seller Is Preparing for a Yuan Crash
24 Jan 2025 23:48 GMT
… is betting that the Chinese yuan will weaken to parity against … any goods changing hands. The yuan has been dragged lower by … the sinking value of the yuan against the Hong Kong dollar … Kong’s 41 year-old currency peg against the greenback. Speculation about …
-
As Hong Kong’s currency peg marks 40th birthday with little fuss, some traders dither over its future
16 Oct 2023 01:21 GMT
“Back then, I was a money and currency trader at Citibank, and I clearly remembered the Saturday morning when the Reuters machine suddenly flashed the breaking news that the Hong Kong dollar was to be fixed at 7.8 per US dollar” with effect from October 17 …
-
Outflows Pressure Sees Chinese Yuan Slip to Seven Month Lows
21 Jun 2024 10:25 GMT
… cash floods into Hong Kong, yuan deposits in the financial hub … .
Since early May, the CNH – yuan traded in the offshore market … ’s liquidity because of the currency peg, so once the Fed starts … US dollar bought 7.261 yuan (renminbi) on Friday.
Reuters with …
-
Analysis-Cash is leaving China again, pressuring yuan
21 Jun 2024 08:38 GMT
… 47;SINGAPORE (Reuters) – A sliding yuan and extensive outflows of cash … better-yielding assets.
The yuan has dropped to seven-month … s liquidity because of the currency peg, so once the Fed … .
($1=7.2610 Chinese yuan renminbi)
(Additional reporting by Jason …
-
In SAFE hands: China's secret plan for a US$1 trillion reserves fund in Hong Kong
16 Mar 2025 12:06 GMT
… ease the pressure on the currency peg," said Xu. By … member seeded with 27 billion yuan (US$3.7 billion) … for the offshore yuan, including a 100 billion yuan trade financing facility … a new programme for offshore yuan repurchase agreements, or a short …
-
Continuing to Defend Currency Peg to US Dollar May Be ‘Dangerous’ for Hong Kong: Expert
06 Oct 2022 03:18 GMT
… economy. To defend the currency peg, the HKMA will have … most dangerous position.”
Yuan Depreciates Despite Official Optimism … currency.
Although the Chinese yuan has depreciated sharply against … Chinese economists believe the yuan depreciation will benefit …
-
Chinese yuan beats Euro, is 2nd most used currency in global payments system SWIFT
21 Oct 2023 06:42 GMT
… economic influence globally. Despite the yuan's share of … and it has had a currency peg since 1994. This peg, along … economy, has helped the yuan gain traction in global trade … global financial landscape, with the yuan's growing prominence signalling …
-
Hong Kong Spends $722 Million to Defend Currency Peg
12 May 2022 04:58 GMT
Hong Kong dipped into its foreign-exchange reserves for the first time in three years to defend its longstanding dollar peg, acting to shore up the local currency against a surging greenback.
The Chinese territory’s de facto central bank, the Hong Kong …