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Nalezeno "Chinese Yuan": 73

HKIIF Chair Advocates for Hong Kong to Develop CNY-Pegged Stablecoin


Xiao Geng states that the creation of a CNY-pegged stablecoin could expand the offshore Chinese yuan market and elevate Hong Kong’s status in the global financial sector. The post HKIIF Chair Advocates for Hong Kong to Develop CNY-Pegged Stablecoin appeared first on Cryptonews

Russia’s Yuan Shift: EBRD Economist Warns of Waning US Dollar Dominance


In a recent interview, the European Bank for Reconstruction and Development’s (EBRD) chief economist, Beata Javorcik, highlighted a notable trend: Russia’s growing inclination to transact in the Chinese yuan. This shift, the economist emphasized, could challenge the dominance of...

US Dollar Dominance in Global Payments Strengthens, SWIFT Data Shows


The U.S. dollar’s dominance in global payments has strengthened, according to data compiled by global financial messaging service SWIFT. The share of SWIFT FX transactions involving the U.S. dollar rose to a record 46% in July. In addition, the share of the transactions involving the Chinese yuan...

Chinese Yuan Not Serious Threat to US Dollar Hegemony, Says Economist


An economist has dismissed the Chinese yuan as a significant threat to the U.S. dollar’s dominance. “The Chinese renminbi, which accounts for less than 3% of global reserves, is not a serious threat to dollar hegemony,” he asserted, adding that “many commentators have...

BRICS Bank Issues First ZAR Bonds as It Looks to Use Local Currencies


The New Development Bank (NDB), established by the BRICS bloc of emerging economies, has issued its first bonds denominated in South African rand (ZAR). The auction, which was closed on Tuesday, is part of the bank’s efforts to increase both fundraising and lending in local currencies. Development...

Asian Economies Could Benefit From Reduced Dollar Influence, Says Devere CEO


The CEO of asset management firm Devere Group says the world is shifting “away from a dollar-dominated financial system.” Emphasizing that a shift away from U.S. dollar influence “could have positive implications for Asian economies,” he described: “With the dollar losing its stranglehold...

Bolivian Central Bank Using Chinese Yuan for International Settlements


Economy Minister Marcelo Montenegro acknowledged that the Bolivian Central Bank is harnessing the Chinese yuan in its commercial settlements. The switch to using the Chinese currency has to do with the dollar scarcity that the country is facing, having to approve a law to sell part of its gold...

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