Advertisement
Advertisement
TOPIC

Foreign exchange market

Foreign exchange market
The global foreign exchange (forex) market has ballooned in recent decades as more and more economies liberalise their capital accounts.
A woman walks by an exchange shop decorated with banknotes. There has been mounting pressure from China’s trade partners to allow the yuan to strengthen. Photo: Felix Wong
Yuan

Beijing vows yuan stability, fires back at currency-depreciation claims

PBOC governor reaffirms yuan stability, refuting trade partners’ accusations ahead of critical US talks in Paris.

videocam
12
Yuan

As the yuan sizzles, China’s central bank deploys double-barrelled policy tweak

videocam
Brics

Why Brics can’t do away with US dollar even as currency cooperation rises

videocam
Banking & finance

Why China’s rise as a ‘financial superpower’ could depend on Hong Kong

From the yuan’s growth as a global currency to IPO funding to tokenisation, the city is a linchpin in Beijing’s ambitions.

16
Illustration: Lau Ka-kuen
Hong Kong budget 2026-27

Hong Kong budget 2026-27: should the coming blueprint boost yuan’s global push?

Experts say Hong Kong has ‘distinct advantages’ that can support the country’s financial development amid geopolitical uncertainties.

China-Africa relations

As China seeks to globalise the yuan, it finds a new vehicle in Africa

Africa Finance Corporation executive says entering Chinese capital markets is a ‘natural evolution’.

videocam
5
Advertisement
Advertisement
Advertisement
Banking & finance

China lets yuan rise to strongest level in years as de-dollarisation trend grows

China’s central bank sets the yuan’s midpoint rate at its strongest level since mid-2023, as jitters over the US dollar buoy the Chinese currency.

8
The yuan has steadily appreciated against the US dollar in recent months amid a growing de-dollarisation trend among global investors. Photo: AFP
China trade

UK, China boost financial ties, deepen London’s role as offshore yuan hub

New pact designates a new yuan clearing bank, boosts cross-listings and expands green finance, accelerating the international use of China’s currency.

videocam
9
Crime in Hong Kong

Are Hong Kong foreign exchange firms secure enough?

After a shocking 51 million yen robbery last week, the South China Morning Post examines the risks in the city’s cash exchange trade.

Yuan

China is on a ‘strong currency’ mission to make the yuan a global reserve: Xi

Xi Jinping says the goal of becoming an international powerhouse is a long-term one and will rest on core foundations.

videocam
13
Beijing has been pushing for the internationalisation of the yuan over the past decade or so, but its global footprint remains limited. Photo: Reuters
Japan

Macroscope | Could Japan stop being the ballast of the bond market?

A lower house election victory would give flight to Prime Minister Takaichi’s fiscal expansionism – and introduce upheaval far beyond Japan.

Japan’s 10-year government bond yield, seen on a screen outside a brokerage in Tokyo on January 21, touched its highest in a century this month. Photo: Reuters
Banking & finance

Trump says the US dollar can move like a yo-yo. Will Treasuries be left hanging?

With the US president levelling threats at enemies, allies and his own central bank, alternatives like gold and Chinese assets are gaining appeal.

videocam
16
Malaysia

As Malaysian ringgit strengthens, Singapore shoppers in Johor reap less savings

The ringgit’s appreciation is also bad news for Malaysian export-oriented sectors, such as gloves and electronics, analysts say.

videocam
Interest rates

Spiking yen fuels risk-averse mood as investors take defensive stance

Yen hits two-month high amid fears US and Japan will intervene to prop up the currency ahead of Japan’s election next month.

Media reports on Friday said that the New York Federal Reserve had checked dollar-yen rates with dealers, widely seen as a precursor to intervention. Photo: Reuters
China economy

Opinion | Talk of digital yuan challenging dollar dominance misses real power shift

China is merely building parallel capabilities. Whether the systems remain complementary or become competitive depends on how others respond.

videocam
People walk past an e-CNY sign at the 2021 China International Fair for Trade in Services, in Beijing on September 5, 2021. Photo: Xinhua
Malaysia

Gloves are off as Malaysia’s strong ringgit bites into producers’ profits

The ringgit climbed more than 10 per cent against the dollar last year, squeezing the bottom line of the export-reliant market.

Yuan

China lets yuan break through 7 per US dollar mark as dollar jitters grow

China’s central bank set the yuan fixing rate at under 7 per US dollar for the first time since mid-2023 as concerns over dollar assets mount.

videocam
11
Advertisement
Advertisement
Advertisement
China trade

China should leverage buying power to boost yuan’s use, former PBOC adviser says

With the yuan’s fixing at fresh 2023 highs and US dollar uncertainty rising under Trump, Beijing is urged to expand yuan-settled imports to internationalise its currency.

videocam
A former adviser to China’s central bank said Beijing should leverage the nation’s purchasing power to boost imports settled in yuan. Photo: AFP
US-China relations

China dumps more US debt, buys other assets as Trump targets Powell

Beijing’s Treasury holdings hit a September 2008 low, and analysts point to fears over Fed independence and debt sustainability, while gold’s appeal rises.

videocam
49
China manufacturing

Fears over China’s trade surplus misplaced as West also driving trend: analysts

China’s global manufacturing dominance is a tale of two halves; reliant on home-grown industrial growth and Western consumption, experts say.

videocam
4
Yuan

China’s PBOC sets onshore yuan fixing at strongest point in nearly 16 months

Analysts note how Beijing’s policy goals, such as internationalising China’s currency and curbing overcapacity, are aligning with a firmer exchange rate.

videocam
The People’s Bank of China set the yuan’s midpoint rate, also known as the daily fixing rate, at 7.0103 to the US dollar on Tuesday. Photo: dpa
China trade

China has logged a US$1 trillion trade surplus. Where is all that money going?

Trade surplus growth has not been matched in foreign exchange reserves – a gap analysts said can be explained by private sector outflows.

43
China’s status as the world’s manufacturing leader has helped it record a record trade surplus in 2025. Photo: VCG via Getty Images
Yuan

China’s offshore yuan breaks major benchmark as appreciation momentum builds

For the first time since 2024, the currency strengthened past the threshold of seven per US dollar – and did it again the next day.

14
Yuan

China expands digital-yuan push to Singapore and Asean trade routes

PBOC pledges to integrate e-CNY into the New International Land-Sea Trade Corridor, boost adoption in Southeast Asia via China’s CIPS payment network.

Technology

Opinion | Forget the US dollar. Watch water and energy resources instead

In our increasingly hi-tech-based economy and financial systems, energy and water resources will be macroeconomically critical.

videocam
4
Illustration: Craig Stephens
US-China relations

China showcases joint effort with US in drugs-related money laundering case

Case spanning both nations saw two men sentenced to jail following US tip-off, People’s Daily reports.

videocam
A court in northern China has sentenced two men to prison and fined them for “illegal trading of foreign exchange and disrupting the financial market order”, according to Chinese state media. Photo: dpa
Yuan

China’s currency comeback: yuan seen breaking key dollar level in 2026

Analysts bet US Federal Reserve rate cuts and thawing trade tensions will drive China’s yuan past the 7.0 psychological barrier.

Yuan

China sets strongest yuan fix in over a year as Fed-cut bets rise

China’s currency is outperforming the euro and yen despite economic headwinds, with analysts pointing to Beijing’s geopolitical leverage as the driver.

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