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News on the RMB, the Chinese Currency

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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 ...

The $3 trillion question

How big a foreign exchange reserve does China need?
Feb 17, 2017 (WiC 354)

News that international payments made with the yuan fell by almost a third last year have added to the sense that the Chinese currency has slowed its journey towards becoming a global currency. In fact, the yuan has dropped out of the ...

The great escape

What does the plunge in China’s forex reserves tell us
Jan 13, 2017 (WiC 351)

In October 1997 – during the height of the Asian financial crisis – Hong Kong was hit by a substantial capital outflow which, according to the territory’s financial regulators, was caused by foreign speculators taking large short positions ...

The redback retreats

Trump’s election victory is triggering a slide in the yuan
Nov 25, 2016 (WiC 347)

When Donald Trump hit the campaign trail hard last summer, he spent a few moments at one of his rallies refuting the notion that he wasn’t keen on the Chinese. The property mogul was referring to a purchaser of one of his most expensive ...

Yuan joins global currency club
Oct 7, 2016 (WiC 342)

It was a birthday present – of sorts. Confirmation that the renminbi has the new status as a global reserve currency came on October 1 – which is China’s National Day – when the International Monetary Fund officially added it to its ...

Managing decline

Redback set to depreciate versus greenback
Jan 8, 2016 (WiC 308)

It’s five years since China’s then-leader Hu Jintao bashed the international monetary system as “a product of the past”. He took particular aim at the dominance of the US dollar and the dangers of the Federal Reserve’s loose monetary ...

Chinese yuan gets elite status from IMF
Dec 4, 2015 (WiC 306)

This week shareholders at the International Monetary Fund voted to include the yuan, also known as the renminbi, as the fifth currency in the IMF’s special drawing rights (SDR) currency basket alongside the US dollar, the Japanese yen, sterling ...

Does devaluation signal currency war or further renminbi reforms?
Aug 21, 2015 (WiC 292)

While not a scientific principle, Sod’s Law is a phenomenon most people can attest to. WiC got a taste of it this month. Just a few days after we’d published our seemingly comprehensive 48-page special edition on the Chinese currency – ...

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