Category: Yuan
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Chinese yuan softens, USDCNY at 7-mth high on weak fix, trade jitters By Investing.com
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Investing.com — The Chinese yuan fell on Tuesday, with the key USD/CHN yuan pair hitting a seven-month high after a weak mid-term reform by the People’s Bank of China, while concerns about the trade war with the West were also present. The yuan pair, which measures the number of yuan…
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Analysis-Cash is leaving China again, pressuring yuan By Reuters
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By Winnie Chu and Ankur Banerjee SHANGHAI/SINGAPORE (Reuters) – A falling yuan and widespread cash flows from the mainland to Hong Kong show that domestic investors in China are pinning their expectations on any immediate recovery in their home markets and fleeing to the nearest assets with better returns. The…
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Court Sentences Gang For Exploiting Digital Yuan In Money Laundering Scheme
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In a groundbreaking legal case, a criminal gang in China has been found guilty of organizing a complex money laundering operation that leveraged the country’s central bank digital currency (CBDC), the digital yuan or e-CNY. The complex scheme, revealed by the People’s Procuratorate of Yueqing District in Shaoxing, Zhejiang Province,…
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Court Sentences Gang For Exploiting Digital Yuan In Money Laundering Scheme
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In a groundbreaking legal case, a criminal gang in China has been found guilty of organizing a complex money laundering operation that leveraged the country’s central bank digital currency (CBDC), the digital yuan or e-CNY. The complex scheme, revealed by the People’s Procuratorate of Yueqing District in Shaoxing, Zhejiang Province,…
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Central banks turn cautious on China’s yuan, keen on dollars and gold By Reuters
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Written by Alun John LONDON (Reuters) – More global reserve managers intend to increase exposure to the currently high-yielding U.S. dollar as their interest in it deteriorates due to lower yields and geopolitical tensions, the official forum of monetary and financial institutions said. Data from a survey conducted by the…
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Central banks turn cautious on China’s yuan, keen on dollars and gold By Reuters
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Written by Alun John LONDON (Reuters) – More global reserve managers intend to increase exposure to the currently high-yielding U.S. dollar as their interest in it deteriorates due to lower yields and geopolitical tensions, the official forum of monetary and financial institutions said. Data from a survey conducted by the…
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Digital Yuan Goes Cross-Border: Hong Kong Unveils e-CNY Wallets For Local Users
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In an important step towards promoting the use of digital currency, Hong Kong residents can now create personal digital wallets for the yuan or CNY, as well as Announce By the Hong Kong Monetary Authority (HKMA). This development, part of cooperation with the People’s Bank of China (PBoC), marks a…
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Asia FX weak with US inflation in sight; China tariff fears dent yuan By Investing.com
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Investing.com — Most Asian currencies were modestly lower on Friday as the dollar stabilized from overnight declines, with focus shifting squarely towards key US inflation data due next week, which is likely to provide further signals on interest rates. The Chinese yuan fell, as did currencies with trade exposure to…