If the IMF votes the Chinese yuan
as a global reserve currency, its value may outperform GCC currencies over time and consistently chip away the default position enjoyed by the US dollar as a global reserve currency over the last few decades," the bank said.
China and Singapore will introduce direct currency trading between the Chinese yuan
and Singapore dollar," the Monetary Authority of Singapore (MAS) said in a statement, adding that details will be announced separately.
Taiwan and China inked a memorandum of understanding on the Chinese yuan
clearing mechanism in August last year.
And the Japanese government also agreed to hold Chinese yuan
in its foreign-reserves portfolio.
htm) Jim Rogers: US Dollar Total Disaster, Own Chinese Yuan
Chen, chairman of FSC, said that the central bank has already agreed with FSC's decision to allow Taiwanese banks' OBUs and overseas branches to handle financial businesses based on the Chinese yuan
instead of the greenback, which is weakening.
Muscat, Feb 7 (ONA) BankMuscat signed an agreement with Bank of China stating that the commercial transactions and dealings will be paid in Chinese Yuan
that would lead to boosting and developing the economic relationships between the Sultanate and China.
Dk Hamidah bte Pg Haji Othman, HSBC Holdings' acting head of personal financial services, said, 'As the leading international bank, HSBC Brunei is the first bank in Brunei to offer Chinese Yuan
Renminbi deposits following China's contribution in global trade and the gradual internationalisation of yuan.
The chart shows percentage changes in dollar exchange rates during 2001-2008 relative to the following five currencies: Canadian dollars (CAD), Chinese yuan
(CNY), European euros (EUR), British pounds (GBP), and Japanese yen (JPY).
ROCKETING demand for the Chinese yuan
suggests that China may be making the leap from a niche to a mainstream holiday destination, according to Post Office Travel Services.
The price of the Chinese-built Prius will be 288,000 and 302,000 Chinese yuan
(depending on trim level), with 3,000 units being planned for sale in 2006.
CHINA -- Economists are calling for a rational evaluation of the Chinese yuan
(RMB) currency amid an international debate on its true value.
dollar gained slightly against the yen Monday morning in Tokyo on buybacks, after being sold last week on heightened expectations that the Chinese yuan
may be revalued.
Nonetheless, some 87 members of Congress recently Signed and sent a letter to President Bush regarding the perceived under-valuation of the Chinese yuan
Indeed, as the Chinese yuan
, the South Korean won, the Malaysian ringgit, and others of these currencies floated up with the dollar's rally of that time, Europe and Japan found a measure of relief from the natural price advantages of Asian import competition.