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News on the RMB, the Chinese Currency

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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 – ...

Coming to the Americas

Is usage of the RMB rising in the US, Canada and Latin America?
Jul 24, 2015 (WiC 291)

The latest data from SWIFT, the financial messaging network, shows that more than a thousand banks worldwide use the yuan for payments with China and Hong Kong. The figures (from May) say something more about the global reach of China’s ...

On the right track?

What greater weightings for China in world indices mean for its currency
Jun 5, 2015 (WiC 284)

While undervaluation of the renminbi was a major factor causing the large imbalances in the past, our assessment now is that the substantial real effective appreciation over the past year has brought the exchange rate to a level that is no longer ...

Survey shows 22% of firms are paying in yuan
Jul 18, 2014 (WiC 246)

It’s more than three years since former Chinese President Hu Jintao announced that an international currency system dominated by the US dollar is a “product of the past”. Earlier this month French Finance Minister Michael Sapin also ...

Latest HSBC survey hints at a lucrative benefit if exporters use renminbi
Jul 26, 2013 (WiC 203)

The renminbi was top of the agenda at HSBC’s fifth Global Connections event in Guangzhou at the end of June. The conference, attended by more than 70 of the bank’s corporate clients from around the world, brought together a selection of ...

Taking it personal

Yiwu pilots yuan scheme for small businesses
Jun 14, 2013 (WiC 197)

A trip to Yiwu can be a bewildering affair. When a British newspaper visited the world’s largest wholesale market a few months ago, it met a British businessman who complained it was too hard to find the right product. “It is like finding ...

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