Sorry, you have not enabled Javascript for your internet browser, so some of our website's pages may not render as fully as intended.
Please Click here for easy instructions on how to enable Javascript on your browser or consult your IT support staff for help.

News on the RMB, the Chinese Currency

1 2 3 4 5

Strong and stable?

The yuan drops to its lowest level against the dollar for years
Oct 7, 2022 (WiC 603)

“Our currency, but your problem” was the unsympathetic verdict from Richard Nixon’s Treasury Secretary John Connally (or ‘Typhoon’ Connally as he was known by his Japanese contemporaries) in late 1971 at a meeting of finance ministers ...

Warning from Wyoming

Powell speech heaps more pressure on yuan-dollar exchange rate
Sep 2, 2022 (WiC 598)

It wasn’t just Wall Street that was rattled by the warning from Jerome Powell last Friday that there could be pain ahead as the Fed tries to get inflation back under control. The comments from the Federal Reserve boss were soon reverberating ...

Redback in focus

The yuan slumped versus the dollar in April
May 6, 2022 (WiC 583)

The yuan slid more than 4% against the dollar in the offshore currency markets in April, setting it on course for its worst month for more than a decade. The slump is effectively a reversal of the situation in late 2020, when the US economy ...

Go with the flow

Will China soon start to pay for its Saudi oil with yuan?
Mar 25, 2022 (WiC 578)

Could a currency deal between the world’s biggest exporter of crude and its biggest buyer trigger a new challenge to the US dollar’s global supremacy? That was the speculation about a potentially crucial repositioning in the oil world, ...

A pivotal moment

What do rate cuts signal for the renminbi?
Jan 21, 2022 (WiC 570)

How much of an increase in interest rates should we expect this year? In the United States the Federal Reserve is coming under major pressure to raise rates because of inflation, which surged to 7% in December, the highest level in 40 years. The ...

The redback’s rising again

Yuan back in favour, making gains against the US dollar
Oct 23, 2020 (WiC 515)

Six years ago usage of the yuan was growing quickly enough beyond China’s own borders that the currency merited mention in The Economist for its “remorseless and unstoppable” advance. Yet its spread slowed markedly outside China after ...

Xi Jinping talks up blockchain as China readies a digital currency of its own
Nov 1, 2019 (WiC 472)

After a gap of almost a thousand years China is poised for another revolution that reshapes our understanding of what money means and, by definition, how we conduct our day-to-day lives. The country that invented the concept of fiat money in ...

Preparing for the worst

Central bank cuts reserve requirements as yuan drops against the dollar
Jun 29, 2018 (WiC 415)

Xi Jinping, the Chinese leader, is threatening to “punch back” if Donald Trump’s administration persists in putting tariffs on his country’s goods. But the people taking the greatest pummelling this week were investors in China’s ...

Is China plotting the death of the petrodollar?
Sep 15, 2017 (WiC 380)

Struggling with inflation and a nasty balance of payments deficit, Richard Nixon shocked the world’s central banks in 1971 by closing the ‘gold window’ in which US dollars could be exchanged for gold at the Federal Reserve. The greenback ...

Gaining currency

Why investors are turning back to the yuan
Sep 8, 2017 (WiC 379)

How long should you hang in there? That was the question for short-sellers of China’s currency this week after a Texan hedge fund gave up its longstanding prediction that the yuan would crash. Mark Hart’s Corriente Advisors made money ...

1 2 3 4 5