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Currencies
Currency market action focused on developments with the Chinese yuan and the Hong Kong dollar.
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Banking & finance
Outside In
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Why ending US dollar peg isn’t the answer Hong Kong needs
The dollar peg still does yeoman’s work for the city, while promoting the yuan in trade finance and settlement would enhance what it has built.
19 Jul 2025 - 9:30AM
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Brics
Opinion
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For Brics, it’s a big leap from talk shop to institution of power
15 Jul 2025 - 4:30PM
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Hong Kong Monetary Authority (HKMA)
HKMA intervenes in the market for the fifth time in 2 weeks to defend currency peg
11 Jul 2025 - 4:09PM
Yuan
Why the yuan can be safe-haven currency: former bank official flags ‘advantages’
Authors, including the PBOC’s former statistics head, call for ‘a new vision where multiple currencies jointly support global financial stability’.
10 Jul 2025 - 2:00PM
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China digital currency
Opinion
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Amid dollar disappointment, China opens new front with e-CNY push
Subtle shift under way as fintech merges with geopolitics: e-CNY is a way to evade US sanctions and dollar volatility but also carries risks.
9 Jul 2025 - 5:25PM
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United States
Opinion
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Decades of America’s ‘exorbitant privilege’ is ending, thanks to Trump
The US president is systematically destroying faith in the dollar in global financial markets and among governments and central banks.
8 Jul 2025 - 3:34PM
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Yuan
Traders look beyond the euro for the next round of short dollar bets
Traders are betting that the yuan, the Australian dollar and the South Korean won will strengthen versus the US dollar.
7 Jul 2025 - 3:26PM
Banking & finance
Did Trump get his ‘Big Beautiful Bill’ at the US dollar’s expense?
Analysts say the sweeping budget act resolves the immediate debt crisis, but the resultant deficit could accelerate global de-dollarisation.
4 Jul 2025 - 7:30PM
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Banking & finance
Economist Huang Yiping floats Hong Kong as stablecoin staging ground
A digital currency pegged to the offshore yuan would be more workable in Hong Kong than mainland China, the central bank adviser says.
3 Jul 2025 - 5:00PM
Digital currencies
Mainland Chinese digital yuan partner to develop stablecoin tech in Hong Kong
Shenzhen-listed North King says Hong Kong will be a springboard into international fintech markets, with plans for stablecoin wallets.
3 Jul 2025 - 10:40AM
Banking & finance
Explainer
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The world is going all in on stablecoins. Is China’s digital yuan any different?
While the two appear similar, China’s digital currency is quite different from the cryptocurrencies many economies are rushing to regulate.
3 Jul 2025 - 10:03AM
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Central banks
Russian central bank to increase forex sales to US$113.5 million a day
Unable to trade in dollars or euros due to Western sanctions, the central bank now relies solely on China’s yuan for interventions.
27 Jun 2025 - 2:49PM
Interest rates
Hong Kong steps into the currency market to defend local dollar’s peg
The city’s de facto central bank sold US$1.2 billion worth of US dollars to buy Hong Kong dollars at HK$7.85 per dollar.
26 Jun 2025 - 5:48PM
Banking & finance
Are stablecoins the future? Don’t bank on it, warns the bank for central banks
Bank for International Settlements releases ‘advance chapter’ on stablecoins ahead of its Annual Economic Report that paints a future picture of a different financial system.
24 Jun 2025 - 7:00PM
Yuan
China’s yuan set to benefit as central banks report doubts about US dollar
Survey of central banks shows concern over long-term viability of US dollar, but not enough for the yuan or other currencies to supplant it.
24 Jun 2025 - 8:01PM
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Central banks
Trade war worries push Asian central banks to curb currency intervention
India, Malaysia, Taiwan and South Korea are all easing their grip on currencies as the US dollar tumbles – to avoid a Trumpian backlash?
24 Jun 2025 - 9:41AM
Yuan
China needs yuan-backed stablecoins ‘sooner rather than later’, Beijing urged
The US dollar’s dominance in global markets could be enhanced by stablecoins, and China has a golden chance to make the yuan a more global currency, analysts say.
23 Jun 2025 - 5:00PM
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Banking & finance
Hongkongers, mainland residents embrace Payment Connect service on first day
New service operates smoothly as thousands take advantage of link between Hong Kong’s FPS and the mainland’s IBPS.
22 Jun 2025 - 8:17PM
Singapore
In Singapore’s last bastion of cash, money changers fight the future
From sailors to tourists, hundreds flock daily to The Arcade, proving that in a city obsessed with fintech, cold hard cash still holds sway.
21 Jun 2025 - 12:28PM
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Banking & finance
Mainland China, Hong Kong launching Payment Connect scheme to aid capital flows
‘Milestone’ programme links mainland China’s Internet Banking Payment System with Hong Kong’s Faster Payment System, simplifying cross-border payments.
20 Jun 2025 - 4:30PM
Hong Kong economy
Macroscope
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Demise of Hong Kong dollar peg? Still the bet you shouldn’t take
While the currency peg is not indestructible, investors should not underestimate the extent to which it is part of the city’s raison d’être.
20 Jun 2025 - 10:11AM
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Banking & finance
Editorial
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US dollar uncertainty propels use of e-CNY
As mainland’s international operations centre, Shanghai will increase global reach of yuan, promote China’s central bank digital currency.
19 Jun 2025 - 11:25PM
US-China trade war
China cuts US Treasury stockpiles to 16-year low amid Trump’s trade war
As tariffs rattled markets in April, Beijing’s US debt holdings fell to their lowest level since 2009.
19 Jun 2025 - 10:53PM
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Stablecoins
Why US-backed stablecoins have China wary of a potentially more dominant dollar
Former head of China’s central bank warns ‘USD-backed stablecoins could have worldwide influence’, and what about the yuan’s internationalisation?
19 Jun 2025 - 6:30PM
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Digital currencies
Opinion
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Hong Kong developing a yuan-pegged stablecoin would be a game changer
In a world of dollar-pegged stablecoins, the case for yuan-based alternatives – and what it means for the future of money – is compelling.
18 Jun 2025 - 7:44AM
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Banking & finance
Hong Kong can power yuan’s international ascent: HSBC co-CEO
City should scale up yuan-denominated trade finance and participation in stock and bond markets, David Liao says.
13 Jun 2025 - 6:30PM
Yuan
China’s yuan fixing rate hits 2-month high as US dollar drops
With the US dollar sagging, China’s central bank has strengthened the midpoint rate for the country’s currency in recent days.
13 Jun 2025 - 5:32PM
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Commodities
Crypto can’t chip away at gold’s safe-haven shield: gold researcher
Spot gold price surged to US$3,444 after Israel’s strikes on Iran.
13 Jun 2025 - 2:26PM
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