China will tighten oversight of its sprawling asset management industry as it moves to rein in financial risks, a senior central bank official said in remarks published on Friday.
Are RMB speculators possibly moving out of RMB into gold? This could be entirely plausible as RMB investors were likely seeking an alternative to the U.S. dollar and the euro in the first place.
According to the most recent triannual review from the Bank of International Settlements, the renminbi was the ninth most actively traded currency in 2013 with a 2.2 percent share, up from 0.9 percent in 2010.
The Swiss National Bank and the People’s Bank of China agreed to establish a bilateral currency swap line, bolstering access to trade finance in the Swiss franc and strengthening the international use of the yuan.
The Swiss National Bank and the People’s Bank of China agreed to establish a bilateral currency swap line, bolstering access to trade finance in the Swiss franc and strengthening the international use of the yuan.
China’s central bank appointed Bank of China Ltd.’s Frankfurt branch as the first institution in the euro area able to clear payments in the country’s currency on the day yuan trading started in London.
The yen rose the most in almost a month versus the euro on speculation the Bank of Japan stimulus is boosting the economy while the European Central Bank will expand currency-debasing measures to revive growth.
