Why China’s currency has two names
China has indicated that it will allow its currency to appreciate – following months of pressure from the US. Some refer to the currency as the yuan, others call it the renminbi. Who is right?
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Archive for 'Asia'
Facebook to launch virtual currency
Facebook is partnering a Malaysian company to sell credits at retail outlets across Asia for the first time, aiming to make it easier for millions of people to purchase virtual goods and play games on the social networking site while boosting revenue for developers.
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US Unions Demand For China Currency Bill
The largest Labour group in U. S. advocated Congress for passing the legislation to fight China’s currency practices. This suggestion from Labour group has come a day after the refusal of Obama Administration to name Beijing as a currency manipulator.
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South Korea, India, Taiwan: Asia Bonds, Currency Preview
The following events and economic reports may influence trading in Asia’s local bonds and currencies today.
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China’s currency action to come under scrutiny at G20
World leaders at the upcoming G20 summit are expected to scrutinize how far China will go in reforming its currency following Beijing’s weekend decision to let the yuan appreciate.
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Asia may introduce a common currency in 2015
Nobel Laureate Robert Mundell argued that Asia needs a common currency to reduce exchange rate volatility, which adversely affects growth and increases poverty. Asia may introduce a common currency in 2015.
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Yuan may be reserve currency by 2020
In the latest advertisement of China’s currency ambitions, an official suggested on Wednesday that the yuan could make up more than 3 percent of global foreign exchange reserves by 2020.
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Exchanges seek longer trading hours
The National Stock Exchange (NSE) and the Multi-Commodity Exchange stock exchange (MCX-SX) have approached the Securities and Exchange Board of India (Sebi) with proposals to deepen the currency derivatives market.
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China, HK set up multi-currency payment system
China and Hong Kong plan to set up a multi-currency payment system between the two economies from next week in order to facilitate transactions between them, the People’s Bank of China (PBOC) said on Thursday.
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