The media has given little attention to the increasing global risk posed by China’s weakening currency, according to Mark Smith, partner at UK-based wealth manager Andrews Gwynne.
Tag: Yuan
China’s capital outflows increase for fourth straight month
In August, $51bn left the mainland, according to Standard Chartered estimates, as authorities increased support for the mainland currency, which is under devaluation pressure.
Opportunities from central bank largesse
Central banks in the US, Europe, Japan and China believe they can address slowing growth with forceful monetary policy action, but that keeps inefficient businesses alive, according to Robert McConnaughey, director of global research at Columbia Threadneedle Investments.
Yuan SDR inclusion delayed to 2016
The IMF confirmed that it would delay a review of the yuan’s inclusion in its special drawing rights currency basket to September 2016, despite China’s latest move to relax control of the yuan exchange rate.
PBOC: China to open FX market to foreigners
Yi Gang, deputy head of China’s central bank, said that qualified foreign institutions will be allowed to enter China’s FX market in order to bridge the gap between the yuan’s onshore and offshore rate.
Singapore China start direct currency trading
Singapore and China have begun direct trading of the Singapore dollar and the Chinese Yuan to promote the international use of the Chinese currency for trade and investment.
