TOPIC

Currencies

Currencies
Currency market action focused on developments with the Chinese yuan and the Hong Kong dollar.
US Federal Reserve chairman Jerome Powell listens during a press conference after cutting interest rates for the first time this year, in Washington, US, on September 17. Photo: Reuters
Hong Kong economy

Editorial | US rate cut offers Hong Kong relief but uncertainties remain

The city’s property and stock market can expect a boost but much that is affecting the local economy and its outlook is beyond our control.

Banking & finance

After Fed cut, moderate easing expected by China’s central bank, supporting yuan

videocam
Yuan

China’s offshore yuan strengthens further against US dollar as rate cuts loom

videocam
South Korea

‘Naked imperialism’: will Trump’s US$350 billion demand bankrupt South Korea?

US demands for a US$350 billion cash investment to avoid higher trade tariffs could send South Korea’s economy ‘belly up’, experts say.

videocam
23
A protester holding US dollar banknotes wears a mask of Donald Trump during a rally in July against Trump’s tariff policy near the US embassy in Seoul. Photo: AFP
Diplomacy

Opinion | China’s moment to rewire the world is arriving. What will it do?

For the first time since the Cold War, the world is between orders and the momentum is with Beijing as geopolitical winds shift eastward.

videocam
4
Banking & finance

China offers funding for stablecoin research as global interest grows

The country’s largest state research bureau is offering grants for the study of the digital assets - and how to monitor their movements.

videocam
4
Advertisement
Advertisement
Advertisement
Africa

In DR Congo, cash shortage forces rebel-held city to use damaged banknotes

Residents in Bukavu are using older, perforated banknotes put back into circulation, but some shopkeepers refuse to accept them.

Perforated notes are seen in Bukavu, Democratic Republic of Congo, on August 29. Photo: AP
Banking & finance

China extends gold-buying streak as central banks seek US dollar alternatives

A 10th consecutive monthly increase for Beijing’s gold holdings comes as global institutions turn to ‘ultimate currency’ for safe haven.

videocam
9
Diplomacy

Macroscope | Shanghai spirit for new world order needs to be matched by the West

SCO summit’s vision can’t be implemented without the requisite monetary and financial systems in place. The West must play a role if the world is not to fragment into blocs.

videocam
Yuan

China’s yuan rallies with central bank backing as worries mount over US dollar

The People’s Bank of China has nudged the yuan into a stronger position as investor concerns grow over Federal Reserve independence.

videocam
China’s yuan has rallied against the US dollar in recent days, a change analysts said was primarily driven by central bank policy. Photo: AFP
China-Russia relations

China’s vision of multipolar order depends on yuan-based system: Oleg Deripaska

Russian billionaire and Putin associate says Beijing is taking a cautious tack on dedollarisation.

videocam
8
Russian metals magnate Oleg Deripaska says Chinese banks are too dependent upon dollar assets, and “scared to death to take any risk”. Photo: AP
Banking & finance

Chinese province floats new use for digital yuan: paying long-delayed debts

Authorities in Hunan province have suggested China’s digital currency could be employed to clear opaque ‘chain debts’ more easily.

videocam
Yuan

China eyes honing its bond issuance mechanism to boost yuan’s global role

Beijing aims to increase the use of its currency overseas as trading in US dollar assets becomes increasingly volatile.

US-China trade war

China pushes development bank to help 10 Eurasian countries curb US dollar risks

President Xi Jinping raises urgency of a bank for the Shanghai Cooperation Organisation’s members, as Washington wields ‘extraterritorial power with the dollar’.

videocam
26
Russian President Vladimir Putin (left), Indian Prime Minister Narendra Modi (centre) and Chinese President Xi Jinping (right) talk ahead of the Shanghai Cooperation Organization summit in Tianjin, China, on Monday. Photo: AP
Yuan

China’s yuan could strengthen to 7 per US dollar as Fed sends dovish signals

The Chinese currency is already rising against the US dollar and will receive another boost if the Federal Reserve cuts interest rates.

The Chinese yuan may strengthen to 7.0 against the US dollar by the end of the year, according to a Goldman Sachs forecast. Photo: AFP
Hong Kong economy

Editorial | Erosion of US Fed independence a worry for Hong Kong

City needs a predictable and independent US monetary policy. That is now a big question mark.

United States

Trump implores banks to step up monitoring of China money laundering linked to fentanyl

Treasury advisory highlights how informal Chinese money-laundering operations allow Mexican drug cartels to bypass financial safeguards.

Advertisement
Advertisement
Advertisement
Yuan

China’s yuan fixing rate hits 9-month high after dovish pivot by US Fed chair

Move by China’s central bank comes after Jerome Powell opened the door to an interest rate cut next month.

China’s central bank has set the yuan’s daily reference rate against the US dollar at the strongest level in more than nine months. Photo: AFP
Australia

Editorial | Record Chinese yuan loan to Australian miner makes good sense

The sizeable foreign loan is a landmark in Beijing’s efforts to internationalise the yuan as an alternative to the US dollar.

India

Why India is easing rupee trade rules amid US tariff tensions

Move reflects India’s desire to insulate itself from foreign currency fluctuations and could reduce country’s reliance on US dollar, analysts say.

videocam
Banking & finance

Hong Kong stablecoin rules to upgrade city’s trade-finance role: UAE banker

City could rebuild its role in expediting trade between mainland China and global markets, CEO of United Arab Emirates’ Zand says.

Cross-border payments using stablecoins can facilitate trade-finance flows, according to Zand CEO Michael Chan. Illustration: Shutterstock
Hong Kong Monetary Authority (HKMA)

Hong Kong sells US dollars to fight carry trade, defend currency peg

This is the 11th time that the HKMA has intervened in the foreign exchange market since June 26.

The Hong Kong Monetary Authority has intervened in the foreign exchange market overnight for the 11th time since late June. Photo: Felix Wong
Yuan

China’s big yuan devaluation sent shock waves 10 years ago – what has changed?

Lessons from the past, and an eye on the yuan’s globalisation, have helped shape a decade-long shift towards mostly market-based pricing for China’s currency.

Banking & finance

Opinion | Hong Kong can lead charge for yuan alternative to US stablecoin

As legislation and dollar stablecoin dominance give US a new lever of financial statecraft, with its new law, Hong Kong can develop a credible alternative.

videocam
Yuan

Explainer | China’s money launderers exploited a gem of a loophole - Beijing just plugged it

Financial crime watchdog targets dealers of precious metals and gems – and experts say that’s just the start as non-financial sectors come under the money microscope.

videocam
If China’s dealers of precious metals and gems have reason to suspect that a customer intends to use such transactions to launder money, they must report it. Photo: Getty Images
Stablecoins

Crypto exchange OSL sees optimism rise as Hong Kong enters stablecoin era

The Hong Kong Monetary Authority is likely to issue the first batch of stablecoin licences early next year.

Hong Kong’s stablecoin era sees heightened optimism over the virtual assets. Photo: Shutterstock
Singapore

Singapore fines 2 Chinese yuan remittance firms for sharing information

The 2 firms, located next to each other, exchanged information on the yuan for 6 years.

videocam
Hong Kong Monetary Authority (HKMA)

Hong Kong’s war chest grows the most in 2 decades on bull market

The Exchange Fund’s first-half return grew 76.6 per cent from the HK$110.1 billion gain last year, the Hong Kong Monetary Authority said.

videocam
Advertisement
Advertisement
Advertisement
Help preserve 120 years of quality journalism.
SUPPORT NOW
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement