Moscow/Beijing: – Russia has turned its attention to China to counter the stringent sanctions imposed by the western countries. The Russian banks, worst hit by the western sanctions, have started using Chinese currency, Yuan. VTB, the leading Russian bank, has appealed to its customers to convert their deposits to Yuan and has even assured an […]
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Beijing: – The Chinese communist regime has expedited moves to take the lead in the digital currency sector. The Chinese central bank has decided to gift 40 million digital Yuan currency to the residents of Beijing through a lottery system. This is the third instance of the Chinese government giving the digital Yuan currency in […]
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Beijing: – The Chengdu city administration in China has gifted 40 million Yuan to its 200,000 citizens. This is the biggest gift given by an administration in China to its citizens. This is because the currency is in digital form. Moreover, China becomes the first country to test the use of digital currency on such […]
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Beijing/Washington: China has devalued its currency, Yuan, to seven Yuan to a USD, at a time when the trade war is intensifying. While announcing this devaluation, the Chinese central bank mentioned the taxes imposed by the United States, unilateral decisions and protective trade policies of the United States. Therefore, this devaluation is believed to be […]
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London/Beijing: Former British Minister Jim O’Neill claimed that the Chinese currency Yuan had the capacity of becoming the international currency saying, “The position of the US dollar as the global currency is still intact. There is only one legitimate way to change it. A new long term and the genuine currency has to be created […]
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Moscow: During Chinese President Xi Jinping’s Russia visit, an important announcement was made on the establishment of an independent fund between Russia and China, based on the Chinese currency Yuan. Although many projects have been taken up between the two countries under bilateral trade and investment, this is the first time a fund based only […]
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London/Beijing/Washington: “As the world re-orders itself, this disconnect between the real and financial is likely to reduce, and in the process, other reserve currencies may emerge. In the first instance, I would expect these will be existing national currencies, such as the renminbi,” said the governor of the Bank of England (BoE), claiming China’s Yuan […]
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Harare: Influence and scope of the Chinese Yuan which was accepted as a global ‘Reserve Currency’ by the International Monetary Fund two years ago, is on the rise. In an economic conference held in Africa on Monday, there were comprehensive discussions about officially accepting Yuan as a Reserve Currency. A few African countries including Angola, […]
Read More »Islamabad: Pakistan has initiated the use of the Chinese currency “Yuan” in its international trade transactions. This was officially announced by the Pakistani central bank “State Bank of Pakistan” and has allowed Pakistani companies and businessmen to use Yuan in their transactions. This decision of Pakistan is considered to be a retaliation to the warning […]
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Beijing: The results of recent elections in the United States has begun affecting the Chinese economy and the Chinese Yuan is beginning to decline. Within two weeks following Donald Trump’s victory, the Chinese Yuan is getting extremely devalued. Currently the Yuan has sunk to a eight and half year low against the US dollar. To […]
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