TOPIC

Currency war

Related Topics:
Russia only started pushing to reduce global reliance on the US dollar after its banking system was cut off from the world’s reserve currency. Photo: AFP
Currencies

Opinion | Trump’s fuming over unlikely ‘Brics currency’ belies risks of de-dolarisation

Trump’s threat of tariffs over a currency that will likely never exist is a reminder of how much clout the dollar has in the developing world.

6
US-China relations

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

80
Yuan

Beijing urged to offer more yuan loans overseas to help dethrone US dollar

17
China economy

Macroscope | Why China must choose stealth yuan depreciation and avoid mistakes of 2015

The yuan is under strain from internal and external pressures, making the balancing act that China’s monetary policymakers are trying to manage even trickier.

Markets are taking seriously the prospect of a surprise devaluation of the yuan as China’s persistent cyclical and structural economic woes put pressure on the currency. Photo: Reuters
United States

Macroscope | US is stuck in a vicious cycle that could spell crises elsewhere

No state can withdraw from globalisation on its own terms, and the world cannot have one power in effect running monetary policy on behalf of everyone else.

11
Yuan

Yuan pressure, forex volatility loom if Trump re-elected: analysts

China’s yuan has faced depreciation pressure in recent weeks, largely because of the strength of the US dollar, with the result of November’s presidential election adding further uncertainty.

Advertisement
Advertisement
China economy

Macroscope | Is another Asian currency crisis coming? Keep an eye on China’s yuan

Concerns about an Asian currency war and what it would mean for the world economy have been underpinned by a strong US dollar. Some economies may choose to intervene in currency markets, but the big question is whether China will devalue the yuan or proceed with caution

videocam
7
A pedestrian walks by the People’s Bank of China in Beijing on February 20. Amid US dollar strength, China might be tempted to devalue the yuan to improve competitiveness versus the yen and the won. Photo: AP
Banking & finance

In Asia, US dollar’s growing strength fuels concern over currency stability

Analysts say China’s central bank, with an eye on the yuan’s stability, could let it weaken gradually, but such a move ‘could backfire to some degree’.

26
Japan

Opinion | Biggest risk with falling yen is not what Japan does but how China reacts

Nothing would stabilise China’s economy faster than a weaker yuan. But this risks triggering a currency war across Asia and beyond, and setting back China. Let’s hope Xi resists the urge.

videocam
Yuan

China’s yuan replaces US dollar as ‘primary’ currency for Russia’s foreign trade

Russian central bank governor Elvira Nabiullina says the yuan’s share in Russia’s exports has increased from 0.4 to 34.5 per cent, replacing the US dollar and euro as its ‘primary’ currency for foreign economic activity.

29
The yuan’s share in Russia’s exports has increased from 0.4 to 34.5 per cent over the last two years, and with imports witnessing an eightfold increase to 36.4 per cent, according to Russian central bank governor Elvira Nabiullina. Photo: Reuters
China digital currency

China’s control of daily yuan reference level at degree last seen in 2010

China is keeps the daily reference rate for its currency within a tight range, with a gauge measuring yuan volatility collapsing to levels last seen in 2010.

videocam
A clerk counts banknotes at a bank outlet in Hai’an, Jiangsu province, China. Photo: EPA-EFE
Yuan

Can China’s pummelled yuan find strength with US Fed pausing interest hikes?

It has been nearly four months since the US Federal Reserve’s last interest rate hike – the 11th since early 2022 – but the impact still lingers in China’s markets, and an outflow of capital has persisted while the yuan depreciates.

13
Yuan

US dollar trust not an ‘easy thing to overcome’ despite jump in de-dollarisation

International Finance Forum say a trend of using regional currencies rather than US dollar is a result of unprecedented US monetary tightening, but there still remains doubts about a credible alternative.

33
Yuan

Will China weaponise the yuan? Global finance body throws cold water on idea

Intentionally weakening the yuan would be a boon for cheaper Chinese exports, but on the whole, a devalued yuan could make China’s problems much worse.

26
China’s yuan has depreciated considerably against the US dollar this year. Photo: Shutterstock
Yuan

As China works through yuan tool kit, weak currency hits traders, travellers

China’s yuan fell to a 16-year low against the US dollar last week, with financial regulators vowing to take action to stem one-sided speculative bets, but exporters are already under pressure to change prices.

China’s exports have already registered a year-on-year fall for a fourth consecutive month to US$284.9 billion in August, having fallen by 8.8 per cent from a year earlier. Photo: Xinhua
Yuan

Explainer | How far will China go after yuan slides to 16-year low against the US dollar?

China’s yuan plunged to a 16-year low against the US dollar due to a poor business outlook and a widening yield gap, with the central bank promising to ‘actively and steadily respond’ to depreciation pressure.

8
Banking & finance

Hedge funds say too risky to short US dollar on Fed hazard, China policy limp

The dollar’s recent strength has confounded bears, and some hedge funds say the rally is not over. Others see the end of US rate-hike cycle in 2024 as a chance to start buying emerging markets and China assets.

videocam
Advertisement
Advertisement
Yuan

China to cut forex deposit reserve requirement to support yuan, prop up economy

The People’s Bank of China will cut the reserve requirement ratio for foreign-exchange deposits later this month in the latest move to support the yuan exchange rate and prop up the faltering economy.

8
The reserve requirement ratio for foreign-exchange deposits will be cut from 6 to 4 per cent from September 15, the People’s Bank of China said. Photo: Reuters
Yuan

US dollar ‘weaponisation’ demands Beijing rethink yuan plans, economist warns

Securing China’s overseas assets has become more difficult in a time rife with geopolitical wrangling that continues to alter the world’s currency-use landscape, outspoken Yu Yongding says.

82
China economy

Macroscope | ‘Nuclear option’ of yuan devaluation could be on the cards for China

Currency devaluation is a common temptation for major trading nations such as China despite the risk of starting currency wars. A recent report argues devaluing the yuan could bring major benefits and spur China and others to experiment further.

28
Yuan

Will economic recovery lift China’s yuan out of jungle after Fed effect fades?

Yuan has dropped below the key level of 7 against the US dollar for the fourth time since 2019, but the spillover effects of tightening US monetary policy will weaken and offer support to the Chinese currency, the foreign exchange regulator said on Friday.

The yuan has recently dropped below the key psychological point of 7 against the US dollar for the fourth time since 2019. Photo: Reuters
Yuan

No need to panic: investors reassured central bank has tools to support yuan

Commentary in the central bank-backed Financial News said China’s economic recovery will continue to improve and yuan-denominated assets remain attractive.

videocam
13
The yuan has fallen 4.7 per cent against the US dollar since the start of the year. Photo: Reuters
Yuan

As yuan slips to 7-month low, market waits for China central bank’s next move

People’s Bank of China promises ‘comprehensive measures’ to prevent wild swings in the exchange rate as the yuan approaches a key psychological threshold.

videocam
10
Yuan

Yuan to remain under pressure as central bank weighs moves to stem weakness

China’s yuan has weakened by 4.7 per cent against the US dollar since the start of the year, but the central bank has refrained from direct intervention.

12
Pakistan

Pakistan uses Chinese yuan to buy cut-price oil from Russia

Islamabad has also outlined a process to open barter trade with Russia, Afghanistan and Iran without trading in US dollars, in what analysts see as a possible shift from West to East.

6
Chinese renminbi banknotes. Pakistan’s petroleum minister said the South Asian nation used the Chinese currency to buy its discounted Russian oil. Photo: Shutterstock
Yuan

Why is China’s yuan-internationalisation push failing to meet expectations?

Beijing has been trying to get more countries to use its currency for years, but until these hurdles are cleared, the yuan’s rise as an international currency ‘will have a ceiling’.

69
To reduce its dependency on US dollars, China has long been keen on increasing the yuan’s use overseas. Photo: Reuters
My Take

My Take | De-dollarisation is about politics as much as economic viability

The more the dollar is weaponised the faster people will try to dump it, while sanctions are increasingly seen as abusive rather than legitimate.

34
Banking & finance

Dual counter to lift Hong Kong’s yuan hub status, improve liquidity

Some 24 Hong Kong-listed companies apply for permission for their shares to be traded in both yuan and Hong Kong dollar currencies, which would spur the yuan internationalisation campaign and consolidate the city’s status as a leading offshore yuan hub.

4
Advertisement
Advertisement
Help preserve 120 years of quality journalism.
SUPPORT NOW
Currency war
The latest news, analysis and opinion on Currency war. In-depth analysis, industry insights and expert opinion.
last updated:
9 September, 2024
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement