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Currencies

Most currencies, particularly China’s yuan, are facing depreciation pressures as Donald Trump’s reelection has generated uncertainty over the future of global trade. Photo: Getty Images

China sets yuan fix to 14-month low as Trump win piles on the pressure

Yuan’s midpoint rate falls to 14-month low as Trump’s election throws most currencies other than the US dollar into uncharted waters.

HSBC’s 4.5 billion yuan panda bond to boost globalisation of Chinese currency

Mexican leader ‘convinced’ US ties will stay positive after Trump’s election win

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China’s yuan falls sharply as Donald Trump declares US election win

Exchange rate between US dollar and yuan could become a bargaining chip in negotiations between China and the US on tariffs, analyst says.

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A bank employee counting Chinese yuan in Haian, Jiangsu province. Photo: NurPhoto via Getty Images

Dollar drops as some US polls shift toward Kamala Harris

Investors walk back bets on Donald Trump winning the presidential election after weekend polls indicated Harris gaining ground.

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Macroscope | Japan’s election results could have global ramifications

Tokyo’s power vacuum, and questions over Japan’s policies and its relationship with the US under Harris or Trump, could have deeper economic impacts.

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China’s price-conscious shoppers, hungry for luxury goods, jump on weak yen

Chinese shoppers are opting to make purchases of luxury goods outside China, helped out by sustained depreciation of the Japanese yen.

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Shoppers walk out of a Louis Vuitton store in Tokyo’s Omotesando fashion district. Photo: EPA-EFE

US financial-sanction threat should make China rethink forex holdings: economist

‘Possible future sanctions from the US’ under a new US president have set off alarms in Beijing’s policy circles.

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Opinion | Brics is not anti-West, it just wants a fairer world order

In championing economic inclusivity and strategic autonomy, pioneering financial innovation and promoting peace, Brics is a force for good.

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Opinion | Why digitising financial pipelines is essential for global prosperity

Improving digital payments, especially across borders, will make every aspect of global commerce easier and more accessible.

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A visitor displays a cup of coffee bought with China’s digital yuan, or the e-CNY, at the Digital China Summit in Fuzhou, Fujian province, on April 26, 2023. Photo: Xinhua

‘The race is on’: Brics ramps up its challenge to the Western-led world order

The growing bloc, which seeks alternatives to Western-led institutions, is being leveraged by Beijing and Moscow to forge a multipolar world.

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Russian President Vladimir Putin (top, centre) chairs a meeting of Brics leaders on Wednesday. Photo: Brics/dpa

Putin says no Brics plan to create alternative to Swift banking system

Russian leader and bloc’s joint declaration indicate member countries recognise benefits of more transparent cross-border payment scheme.

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Defend euro as China, Russia push for alternative currency: Europe’s bank chief

Next US leader also urged to weigh negative impacts of American and EU trade ‘restrictions and barriers’ on economic growth and inflation.

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Why ‘significant’ shipping deal bolsters China’s manufacturing, boosts yuan use

Hudong-Zhonghua Shipbuilding is due to deliver six vessels to a Hong Kong containership lessor by 2028.

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In terms of global shipbuilding orders, China has gradually pulled ahead of South Korea amid intense competition between their respective shipyards. Photo: Xinhua

Opinion | Could Trump’s economic policies unwittingly undermine the US dollar?

While Democrats and Republicans aim to maintain core US interests, their plans could produce wildly different economic outcomes.

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A woman watches the US presidential debate between US Vice-President Kamala Harris and former US president Donald Trump at an American Eat Company food court in Tucson, Arizona, on September 10. Photo: AFP

Editorial | Time will show worth of strategy laid out by China’s top economic planner

Plan unveiled by the National Development and Reform Commission adds to confidence that China’s 5 per cent growth target can be met.

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China’s yuan faces volatility amid US pressure and home-grown stimulus: analysts

A stronger yuan could drag down China’s export growth, and the central bank is expected to guard against excessive appreciation.

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Yuan use up 21.1% in cross-border trade as China pushes global role for currency

China’s central bank vows to support Shanghai and Hong Kong as finance centres as it takes ‘next step’ in internationalisation of the yuan.

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China’s yuan ranks fourth among top global payment currencies. Photo: Reuters

Malaysia PM Anwar’s coalition faces internal cracks after big by-election win

While Anwar is riding high on his successful economic recovery and political manoeuvres, old tensions with his rivals-turned-allies remain.

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Is the strengthening ringgit a blessing or a curse for Malaysians?

While some Malaysians celebrate the strong currency, others are feeling the pinch as their income from foreign sources shrinks.

Is China’s new large-scale stimulus an economic saviour or ‘not enough’?

Some analysts see ‘panicking’ among China’s policymakers, others point to a rising sense of urgency in fighting deflation.

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China’s central bank governor, Pan Gongsheng, speaks at a press conference in Beijing on Tuesday. Photo: Reuters

China’s yuan gains ground after rate cuts, exporters’ US dollar exodus

Cuts by the Federal Reserve have prompted exporters to convert their US dollar assets into yuan, strengthening China’s currency.

China’s yuan has made gains on the US dollar after a Federal Reserve interest rate cut last week. Photo: Shutterstock

Dump or buy more? China’s holding of US debt in spotlight after Fed’s rate cut

Continued diversification of reserve portfolio may be in order, but into what, and at what speed, are pressing questions.

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Hong Kong banks trim prime rates halfway after Fed’s bold slash

For a typical HK$5 million, 30-year loan priced at prime minus 1.75 per cent, a quarter-point cut in prime rates will save mortgage borrowers HK$720 per month.

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Opinion | Why it’s time Hong Kong joined China’s currency zone

Allowing Hong Kong banks to offer Chinese onshore renminbi services would enable the city to leverage its economic freedom on a whole new level.

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An employee counts Chinese yuan banknotes in an arranged photograph at the Bank of China Hong Kong headquarters, on November 12, 2015. Photo: Bloomberg

When will China respond to Fed rate cut as economic problems mount?

US Federal Reserve expected to lower its benchmark borrowing rate, which could give China room to ease.

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Markets widely expect the US central bank to lower its benchmark borrowing rate on Wednesday. Photo: AP

China’s stealthy yuan support ebbs, denting hot hedge fund trade

A lucrative trade that helped hedge funds ratchet up profits on Chinese debt instruments is starting to lose its charm, analysts say.

Cryptocurrency in focus as China sheds light on new money-laundering risks

Draft revision to the Anti-Money Laundering Law also refines the definition of anti-money-laundering, with seven types of offences listed.

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Currencies
Currency market action focused on developments with the Chinese yuan and the Hong Kong dollar.
last updated:
9 September, 2024
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